Trim?

It would help if we knew exactly what console you have.

P.S. It's spelled knob. Nobe is not a word.
 
Maybe it's "Tape trim" and there's a gain for for a stereo tape in.
I have no idea, just brainstorming.

But as for you original question: what they all said about "trim"
 
From Wikpedia

Below each input, there are usually several rotary controls (knobs, pots). The first is typically a trim or gain control. The inputs buffer the signal from the external device and this controls the amount of amplification or attenuation needed to bring the signal to a nominal level for processing. This stage is where most noise or interference is picked up, due to the high gains involved (around +50 dB, for a microphone). Balanced inputs and connectors, such as XLR or Tip-Ring-Sleeve (TRS) quarter-inch connectors, reduce interference problems.
 
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