A liquid dispensing apparatus includes a self-contained source of fluid normally isolated within a reservoir bulb which is deformable to initially rupture a membrane allowing the fluid to be forced in an axial direction through a shaft bore to saturate a tip-mounted swab. Alternatively, this membrane may be positioned intermediate two aligned sections of the shaft or associated structure and is ruptured upon partial axial collapse of the sections. Several embodiments are proposed and in some, the membrane not only provides the initial containment of the fluid but also serves as a fluid-tight seal between axially adjacent portions of the structure.