Got My First Lathe, Need A Little Help Please

Thanks for the replies everybody. I really appreciate the explanations and encouragement. I have obtained a new bull gear and cross-slide crank, I'll be tearing it down all the way and I'll start a new thread to document the restoration. I agree that will be the best way to learn about its' workings.

I actually obtained another lathe recently, a 10D (I think) in really nice shape with a milling attachment and a whole bunch of accessories for $300, so I had no choice but to drag that home as well. I'm not sure if I'll be keeping one or both, I guess space will be the determining factor. I'll post some pics of the new one and the restoration of the 6 inch when I get home in a week or so.
 
my first lathe was a craftsman 6" bushing headstock that I bought at a salvage yard in downey ca. it came in a shopping cart in pieces. luck for me sears still had some parts in stock and and I was able to upgrade to a tapered bearing headstock. the bull gears ( back gears) are used for very slow speed and will work fine. use open gear lube on them. they are not used for higher speed. look on ebay and purchase used set if you want but try it first. I too have fond memories of working that machime. one time I was cutting a 2" piece of 4140 down to 1.375 and on back gear with a slow feed rate the cut took 1 hour so I would start the cut and go inside watch tv until 1 hour was near up.and then go outside and watch the last little bit. that piece was to make the new spindle for the roller bearing headstock. you should have a chart on the inside of the gear cover to tell you which gears you nnd for feed rate and threads. I was lazy and cut a lot of 20tpi cause I didn't like changing gears. that's another story. bill
 
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