I saw one just like it when I was a kid, in a friend's father's shop in Napa, Ca. it was run from the line shaft, as were most of the other machines, then in High School, in the early 1960s, the machine shop that I attended had one, but with three speed motor drive, finally, I bought one just like it at auction in the late 1960s which I have in my home shop today. You are lucky that the one you show has never had the saw frame broken, as so many have; with mine, I was able to buy a new saw frame which made it cut straight again. I note that in your pictures, the part of the tee slot at the back end of the machine under the saw frame, has been broken, as I have seen on many of these machines; it is important to rig some sort of stop in line with the rear vise jaw outboard of the cut so that cut off pieces of stock cannot roll back at the end of the cut and get caught between the saw frame and the base casting, likely breaking the frame, as mine was; the stop on the outer end of the tee slot is just as important to stop the same thing from happening on that end as well.A question for the moderators is ,do I have this in the correct category? It definitely qualifies as an Antique but maybe it is better suited for the saw section? ? Please let me know. I have been working slowly on the disassembly. So far I have found one major repair that needs a revisit. I will post pictures of that soon. I sent an email to the Peerless Company which is located in Oshkosh, Wi. I received a reply and after sending several pictures ,I now know for sure that the saw is a Standard model 6" saw. It was built in the 20's. I also recieved quite a bit of info on the machines. There are several versions of it with a 3 and 6 speed models out there,at least. This version is single speed. I would like to power it with a 3 phase motor/VFD so I can vary speed by motor rpm. I found "strokes per minute" info In the manuals/adjustment info I recieved from Peerless. With that info,I hope to determine what RPM motor,pulley combo would be best to get the best speed control and power. I have a extra 3 phase motor with a 1745 rpm rate but not sure how slow I could adjust it using a VFD without affecting the life of the motor so it may or may not be the one I need. I hope someone can answer that. The motor on it is a old heavy beadt,GE induction 3 phase that turns 845 rpms but unsure if it is any good.
The leather belting can be had on eBay much cheaper. Look under sewing machine belts. The new poly belts that glue up may be better but I'm not sure they will.You definitely should use coolant, but you are right about coolant spoilage, leave it sit without constant use, and it goes bad; in the Marvel hacksaw that I had, they said to use half light cutting oil and half kerosene, the mixture carries off heat much better than oil alone and the mixture promotes cutting and blade life. As to the belt alignment, I wonder if the pump pulley may be on the shaft backwards or otherwise out of position. The belt was originally round leather and held together at the joint by a with a clip that looks like a hog ring, but not sharp at the ends; I think McMaster Carr has the belting and clips; the belt size, I think is 3/8". The motor on mine is 1750 RPM.