It looks like the same flashlight holder, my grandparents cars had in them. It looks exactly like the one's my grandfather had for holding the old 90 degree bend "2 or 3 - D" size battery flashlight while working under the hood of his '51 F3 and in the cargo area of thier '61 Buick wagon. The other style of flashlight I saw it used for was the old metal or hard plastic straight tube type "2 or 3 -D" battery flashlights from the 50's era.
Thanks for the responses! And thanks for the tell-tale pic Rick's Garage. Do you know if that was a dealer option or an aftermarket thing? Now I need to see if I can find a cool old extinguisher like that one for a reasonable price.