apparatus for dispensing fluid such as lubricating oil onto selected points of a moveable mechanical system , such as a chain conveyor , independent of the speed of movement of the mechanical system , the apparatus including an actuable fluid dispenser mounted for delivering fluid to the mechanical system in response to an actuating signal , a detector positioned adjacent the moveable mechanical system with means for generating an actuating signal and being responsive to the movement of a designated portion of the mechanical system past the detector , means for measuring the respective time interval between movement of two successive portions of the mechanical system past the detector , and means responsive to the measured respective time interval for proportionally delaying application of the actuating signals to the fluid dispenser so as to compensate for any variations in the speed of the mechanical system .