Well I have good news and bad news... It is a Bauer auto-drain, but a very old one that is known to have issues. I'm pretty sure Jacques Cousteau used one for what its worth.
The main issue that it will be unable to drain on shutdown. It holds all condensate until it starts up again. The reason is that it requires power to drain. It is a normally closed setup, requiring no power to stay closed. The timer starts with a 6 second dump on startup, closes for 15 minutes, repeat repeat until you shut it down or pressure switch does it.
Issues have been with the inlet filters on each drain line, they tend to get restricted with sludge, rust and carbon, etc. to the point they don't pass water. The manual drain knobs would allow you to verify they do in deed still drain, as well as allow you to drain after unit shuts down. The logic is opposite what modern drain system do today. I'm attaching a parts breakdown for you, as well as some basic instructions for the operation. As a collector of vintage compressors, I do have some Bauer repair kits for your model still available, let me know if you think you need to repair it. Good luck and just remember to drain it manually after shutdown.