Hi Jared,
I think M^M could be Ministry of Munitions and possibly contained something like explosive powder. This may explain the type of cap, with it being tightened after the cap is fitted to prevent any sparks.
https://trove.nla.gov.au/people/577507?c=people
regards, Richard
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Richard
1943 Bedford QLD lorry - 1941 BSA WM20 m/cycle - 1943 Daimler Scout Car Mk2
Member of MVT, IMPS, MVG of NSW, KVE and AMVCS
KVE President & KVE News Editor
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