Quoted from reconsider59:I'm assuming someone just lazily put a fully exposed wire to make a necessary connection,
That bare wire is factory, it's soft and flexible to minimise any effect on the swinging tilt plumb-bob.
It shouldn't be screwed to the slam switch assembly though, it should be screwed to the wood board on its own.
First picture is the generic Bally setup.
Second picture shows someone moved the slam switch close to the tilt plumb-bob in what looks like a similar way to yours with the bare wire screwed to the slam assembly.