Keith:
Generally speaking the shorter racks were sold as milk bottle racks. That being said, I'm positive that - at some time - some long ago station owner used a milk bottle rack for his oil bottles. LOL
But you would get tired of using it real quick when you kept skinning your knuckles every time you picked it up.
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Brian:
That's a nice set of bottles.
You can get repro 'caps' for them from Ron Scobie. Sand-blast the spouts/caps and repaint them cream, stick a repro decal on each one and put 'em back in the cleaned up rack. They'll look great.
Just be carefull cleaning the bottles. Soap and water - and glass - can make for some interesting problems in handling them in a sink. Your best bet is to put a bath towel (not one the wife is particularly fond of!) in the bottom of the sink to cushion any dropped bottles.
Later . . .
Jim