A device for and method of coating linear elements which provides a housing, which housing has elastomer end members. The respective end members being axially apertured, which apertures are complementary. One of the apertures preferably being serrated. The chamber formed by the housing receives a liquid corrosion inhibitor, preferably of the cationic type. Lengths of pipe, shafting, bars or the like are drawn through the close fitting apertures in the respective end members of the housing to clean the linear elements and to deposit a thin film of magnetically attractable, corrosion inhibiting cationic liquid on the surface of the pipe, shafting or the like, as it passes through the chamber. The liquid corrosion inhibitor is withdrawn from a reservoir by a pump and is directed into the chamber within the housing, and out through a conduit, a filter and back into the reservoir, so as to clean and filter the corrosion inhibiting liquid for reuse and to maintain the proper liquid level within the chamber.