Whats in this old fuse?

["Tesla list" <tesla-at-pupman-dot-com>]

Original poster: CTCDW-at-aol-dot-com 

Hi Folks,

I know it's not quite tesla related, but i was wondering what a white 
powder might be in an old cartridge fuse. The fuse is thick paper with the 
metal end caps, but what is this stuff inside?

I do have a question related to my pole tranny though...One of my 
insulators is leaking oil out the top.. It is wicking up through the rolled 
paper inside. If I were to lower the oil level inside to be just below the 
insulators, does anyone think that might cause problems? the tranny proper 
would still be under oil.

Thanks!

Chris W