Lathe Motor Question

That is a good basic cut off switch. It will handle 120 and 240 volt single phase connections using two terminals as is shown.
It will also handle 3 phase power as there is a contact for each leg. This switch could be used for an on/off switch, although that is not what it is designed for and would be cumbersome.
You would only run hot and neutral wires through a switch like this. The ground wire should not be switched.

I was wrong in the post above, my motor is a Marathon, not Dayton and the wiring is the same for your motor and mine, even the color codes.

Here is the wiring from my motor set up for 120V single phase. The power from the plug goes through a switch and comes in at the top of this picture.

The black wire is hot and connects to P1 on the motor, which is black. P1 is printed on the wire.
The white wire is neutral and connects to the white, yellow and small black wires from the motor.
The green wire is ground and not yet connected in this picture but it goes to the green screw in the bottom of the box, just left of the incoming wires.

The rest of the wires in the motor are connected and insulated with the wire nut as shown in the diagram and the picture.

You can get a cord with a plug on it and wire it up as shown here. When you plug it in the motor will run. Check to see if it is turning the direction you want. If it needs to run the other way, you take the red wire out of the bundle with P2 and orange and put in the black wire from the line 2 connection (with white and yellow wires). You then put the red wire into the connection with the white and yellow wires and the motor will turn the other direction.

To put an on/off switch into the circuit you insert it by cutting the black wire in the cord and connecting each end to the poles on the switch.

Other than the wire swapping for direction, this is really a simple house wiring operation.

There are all kinds of switches that have a built in emergency stop button that would be easy to put in the circuit, but I wouldn't get too deep into that until you decide if you want to use a reversing switch or not. Either way, it is pretty simple to put in some kind of a cut off for 120v setups.
 

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Thank you, the cord I ordered just came in today, I'll see about wiring it up. You have been a tremendous amount of help!
 
It works! Thank you everyone for your help. Now it's time to get this old girl cleaned up so she can hopefully get back to chip making in no time.
 
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