OK, a couple of questions:
When you look through it with the cover open, do you see straight ahead, or is there a prism?
Does the diopter focus what you see or just the target reticle and dot?
Is what you see when the cover open magnified or shrunk?
Do you see anything through it when you aim off to infinity?
I keep coming back to it's being part of a reflex viewfinder,as you might find on a Panavision camera from the fifties, but that's just based on pictures I've seen and the fact that Goerz apparently partnered with American Optical in the early '50's. I could be adding 2+2 and getting purple.
My other guess is that it's part of military range finder of some sort.
You might want to send an email to Martin Hart, Curator of American Wide Screen Museum. He's been very helpful with my lack of knowledge regarding cine cameras. If he doesn't recognize it, given that C. P. Goerz was a prominent lens manufacturer, he might know someone who will.
[email protected] BTW, that website is the Clavius of movie tech - you can spend days wandering the virtual halls.