Such an elegant concept, a hole to commemorate his rule
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It just says "heating furnace". Literally: add, heat, stove/furnace for the three characters.
No idea where glory hole came from.
The opening is actually called that in the US by glass workers. They mentioned it in a corning museum of glass live stream, but I can't find it right now.
That is what this particular type of furnace is called in glassblowing. A glory hole is a specific furnace for reheating glass that has been gathered to keep it at the right temperature.