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From The Collaborative International Dictionary of English v.0.48:
Cresset \Cres"set\ (kr?s"s?t), n. [OF. crasset, cresset, sort of lamp or torch; perh. of Dutch or German origin, and akin to E. cruse, F. creuset crucible, E. crucible.] 1. An open frame or basket of iron, filled with combustible material, to be burned as a beacon; an open lamp or firrepan carried on a pole in nocturnal processions. [1913 Webster] Starry lamps and blazing cressets, fed With naphtha and asphaltus. --Milton. [1913 Webster] As a cresset true that darts its length Of beamy luster from a tower of strength. --Wordsworth. [1913 Webster] 2. (Coopering) A small furnace or iron cage to hold fire for charring the inside of a cask, and making the staves flexible. --Knight. [1913 Webster]