Mysterious Mercury Dash Lights?

What are the factory installed two red jewels (20-30mph & 70-80mph) on my Canadian 1948 Mercury 114x dash gauge. I am reassembling the dash after a long spell and have forgotten?
The two green jewels are turn signals.
Separate gauge cluster (not pictured) comprises amps, temp, fuel & oil pressure.
High beam is at the bottom of the gauge (in between 0-100mph).
 

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Originally, one is the high beam indicator; the other is the turn signal blinker. There should be a small rectangular cut-out plate on the left side of the cup at the top of the steering column, which was for the now very rare factory turn signal switch. The ones in my '47 are now L and R turn signal blinkers, since we wired the parking lights, taillights and both of those red jewels to an aftermarket accessory turn signal switch. I put a 1940 high beam indicator jewel in the dash above the gauge panel.
 
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They don't look like "factory". Why would they be a size smaller and drilled through the double thick area?
 
Are you sure it's a Mercury speedometer? I think they came with a trip odometer in '46. I just noticed it's a Canadian Merc 114, so maybe it's a Ford speedo.
 
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1. Factory high beam is at the bottom of the gauge (in between 0-100mph).
2. Small rectangular cut-out plate on the left side of the cup at the top of the steering column confirms rare factory installed turn signal switch.
3. Forensic investigation confirms red jewels (and green jewels) are definitely factory holes drilled in ‘48 at the Canadian plant. Speedometer has never been disassembled. Jewels have never been removed. Why the holes are drilled smaller, I don’t know. We are looking at a low production business coupe that was possibly one of the very last ‘48 Merc’s to roll off the production line?
4. Definitely Mercury speedo. To the best of my knowledge, ‘48 Ford speedometers did not have green or red jewels.
 
Well, you've reached the limit of my so-called expertise (lol)...let us know if you solve it. And I agree with big job!
 
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