Over the years, I have made any number of "quirky" contraptions and modifications to many machines. Nothing (yet) to my Craftsman, an Atlas build. What I wanted to express is that, in all cases, I gave a lot of thought to making modifications in a way that allows back-conversion to the original design, whenever possible.
The most notable conversion here was to add a planetary gear (back gear?) to a Taiwanese 9X19 to allow slower speed, hence higher torque. Basically a 3:1 reduction gear. The original pulley, a 3 step, was set aside, along with a handfull of other small parts. And the needed modified parts were built up from scratch. That way, back conversion could be accomplished in minutes. Well, a little longer, but less than an hour. . .
Looking at the posted photos, it appears the lathe was a very basic machine, few if any "add ons". As for a piece of "all thread" for the feed shaft, 3/8-16 is a common size for making or repairing a leadscrew. At 1/16 inch per rev it is a practical repair for a manually fed machine. There are several reasons that could have been done. Not the least being inability for a number of reasons to access a proper lead screw. See the "Gingery Lathe" for home brew machines, he also used a 3/8-16 lead screw for a new build.
As far as threading, the pictured machine, I think, is not capable of. One doesn't hand feed the lead screw for threading, it must be geared to the spindle. A 1:1 ratio would give a 16 pitch screw here. 1 rev of the spindle to 1 rev of the leadscrew.
Modifications are a good thing, permanant modifications are often "limited resources repairs", in my opinion.
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