An apparatus for measuring a fluid level includes a housing with a level indicator adapted to display a measured fluid level. A float is associated with the level indicator and an elongated flexible member is provided with a first end and a second end, wherein the first end is attached to the float. The apparatus further includes a spool adapted to store at least a portion of the elongated flexible member, wherein the second end of the elongated flexible member is attached to the spool. A biasing member is adapted to urge the spool to automatically uptake portions of the elongated flexible member as the float travels towards the housing and adapted to allow the elongated flexible member to unwind from the spool as the float travels away from the housing. Additional apparatus include a housing with a level indicator having first and second level indicating gears and a first indexing device adapted to prevent its movement away from one of the indexing gears. The apparatus and a float guide member may be installed on a tank.

 
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> Method for rejecting component during a placement cycle

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