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This is a prewar item so directions are scarce. I pulled the cover off to check the connections.
The two left terminals are connected to the transformer.
The two right terminals are connected to the track
The two center terminals are common
The left terminal is connected to the A terminal
The right terminal is connected to the center rail.
This item has a cracked insulator and has an extra pad on the terminal.

The two left terminals are connected to the transformer.
The two right terminals are connected to the track
The two center terminals are common
The left terminal is connected to the A terminal
The right terminal is connected to the center rail.
This item has a cracked insulator and has an extra pad on the terminal.