I think it is for the pump room of a bulk carrier or RFA tanker to either control liquid ballast pumping to compensate for cargo changes or shifting the cargo itself. Bilge pumping would more likely be controlled by the engineroom without instruction from the bridge when they noticed their feet getting wet.
Martin typed faster. If the image you found is the one from the Charles Beeghly then the puzzle is more why a lakes steamer would need to make smoke long after radar was invented.
Edited By Bazyle on 22/09/2018 19:44:11