I have seen that in homes built in rural areas as from the 60's
It was a common practice for the homes that had septic tanks above the basement floor levels. Being 100 years+ makes your home a prime candidate. Water can and will come up through that hole, especially if you live in a high water table area. Spring or Spring thaw time, you will see quite a bit of dampness around the hole.
If I were you , I would use that hole to my advantage. Possibly place a little reservoir with a small sump pump or put in a proper floor drain.