Just what is this gizmo trying to be when it grown up? It has three wires to be connected and I would like to know how they were supposed to work.
Ed

Its a compact antenna coil, and may have a metal shield and a carbon rod with a capacitor.
Look at this patent to get an Idea.
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=5&ved=0CE0QFjAE&url=http%3A%2F%2Fwww.google.com%2Fpatents%2FUS1828910.pdf&ei=222WT-vAOKm9iwKZh9T2CQ&usg=AFQjCNEVPRyDPyDtrJ8uBUUzbJbgZ3VKUg&sig2=QUHZalS_Cdfhd2l41Y7YwA

Question:
Who made the first ferrite loop antenna for the broadcast band?

Answer:
This thing as above

Not a ferrite core item.
Generally the antenna eliminators were a coil and capacitor tuned to the low end of the band.
Your unit takes advantage of the miles of pipe in the house. It will work better on the opposite end of the house from where the service enters the house.
You should be able to also use it hooked to the house electrical and telephone gnds. Also with a short antenna.
You can use a set on each of two radios to buffer loading on a common longwire antenna.