Comments that may or may not be valid.
1 ) The tool needs to be sharp (Carbide is not really sharp compared to HSS ) The lathe was made before carbide tools were conceived, so I would recommend using sharp, HSS tools. The tools need to have clearance (about 5 – 10 degrees ) in all three planes. Front, side and top – usually known as " top rake. )
Your lathe is not suitable for the speeds and feeds needed to get the best from Carbide tips. Brazed tips have not always bee sharpened!
2 ) The tool needs to be on the centreline of the work. Too high and it rubs rather than cutting. Too low and the Cross Slide is liable to jump forward when you are facing.
If you face the end of the bar and there is a pip in the middle, the tool is not on centre height. If it is too low, you can shim it up. The tin found in biscuit tins, and non corrugated food tins is usually about 0.010" thick.
It would be worth spending time to make a Centre Height Gauge.
Once you have brought the tool to centre height, you then adjust the Centre Height Gauge to that setting and keep it there for use in the future, to set other tools..
3 ) You really need another stage of reduction in the geartrain, (An extra stud, plus a small gear compounded with the one driven by the mandrels, to drive another large gear on the Leadscrew. Pair up the smallest with the largest in each case ) so that the Saddle feeds forward more slowly compared to the chuck. If you know, or can measure the pitch of the Leadscrew, you may be able to calculate the feed per rev. It would be good if you can get it below 0.005"/rev.
Don't know what Change wheels you have, but as an example, try something like: Mandrel 20 First Stud :60/20 Second stud 65/20 Leadscrew 55.. This shows the general principle. You might need to operate the Tumbler Reverse, while the lathe is staionary, to make the Saddle travel towards the Chuck again.
If it is not possible to slow the feed, try feeding by hand. You should be able to feed slower than a one stage reduction! With a ball handle rather than a handwheel, this will not be easy. But it will be good practice for you!
4 ) Your material is not ideal, as already been pointed out. Try to find some free cutting mild steel on which to practice. That should eliminate one source of problems.
HTH
Howard