No idea on the threaded hole but my guess is the bread was put there on purpose to soak up humidity. Works great for brown sugar.
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N = '96 Colnago C40, '04 Wilier Alpe D'Huez, '10 Colnago EPS, '85 Merckx Pro, '89 Merckx Century, '86 Tommasini Professional, '04 Teschner Aero FX Pro, '05 Alan Carbon Cross, '86 De Rosa Professional, '82 Colnago Super, '95 Gios Compact Pro, '95 Carrera Zeus, '84 Basso Gap, ‘89 Cinelli Supercorsa, ‘83 Bianchi Specialissima, ‘VO Randonneur, Ritchey Breakaway Steel, '84 Paletti Super Prestige, Heron Randonneur