My Seneca Falls lathe had a reverser that looked like that from the outside but I never took it apart. The shift handle doesn't seem to be there but it might fit in the casting that is second from the right on the bottom row. I have a picture but I don't know how to include it here.
In my case, it was nice to have a way to reverse the spindle direction. My lathe had no threading dial. It did not appear to be a Seneca Falls part. The motor belt ran to it and then power went from the reverser pulley to the spindle pulley.
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