i was lucky to find an Atlas TH42 last summer for $300. she was left lonely , and cold ,in the shop of an apple farm workshop.
i have a post on youtube "Atlas TH42" (i go by madaboutpix on youtube)
unfortunately, the back gear was operated while the bull gear was engaged which resulted in a catastrophic failure of the back gear spindle driven gear. it took a couple of teeth of of the large back gear as well.the half nuts were fubar, the leadscrew bearing was broken. the transmission was a crumbling pile of ZAMAK dust, but it ran only with the bull gear engaged. i was able to do a few turnings by hand and fell in love with the old girl. so i decided then and there to nurse her back to health so to speak. i was more interested in having a precisely operational unit, rather than spending a lot of man hours, that ,unfortunately i don't have to spend on making her pretty. i scoured ebay and was able to procure all the parts to make her functional. I did a complete disassembly of the headstock and found to my delight , hand etched into the timken taper roller bearings the dates 11/52 on one bearing and 4/53 through osmosis i determined the lathe was most likely assembled in 53' or possibly as late as 55' but i haven't been able to verify. the spindle was unaffected by the collateral damage, and surprisingly the pulley and bushings were quite remarkably pristine, which led me to the conclusion that the old girl got a broken leg early in life and never really got to run with the others. the complete (manual) change gear set accompanied the lathe . they had not been opened, still hand washered/nailed to the original piece of wood they came on.after throwing about $500 at her and about an estimated 40 hours , i was able to turn threads and operate the carriage along with the crossfeed. i'm still toying with her, i recently purchased a couple chucks for her as well as a QTCP.
i love the old girl she runs very smooth even in back gear.
i make it a point to use synthetic lubricants wherever i have been.
if you are considering the task of nursing one back to health, i have 2 pieces of advise...
1 Bring lots of patience
2 Buy doubles, if you can. if they broke once, they'll break again ...