An instrument incorporating a refractometer for measuring parameters of a fluid such as a metalworking fluid, avoids impairment of measurement accuracy due to contact of entrained air and oil with a refractometer window by temporarily interrupting the flow of the fluid through a refractometer chamber and orienting the window so that air and oil will readily separate from the window during the interruption of flow. Continued flow of metalworking flow while refractive index measurements are taken can be achieved by the use of by-pass valving arrangements.