I’m a bit puzzled by your description, I have a VM-E and may be able to help, by shaft for the Z axis do you mean the horizontal shaft that has the handle on it, or the threaded screw that goes vertically into the base? A picture or two may help, I have a very small copy of the manual/parts list which may shed some light on the problem.

One thing is for certain don’t go hammering anything yet!

Edit After giving a little thought and re-reading your post I think you must be referring to the shaft which takes the raising handle, and in this case I would imagine that possibly the nut which holds the worm gear has come undone allowing the shaft to come out.It will only come out a short way as the key which engages with the worm will stop it coming out completely. I have taken a picture which comes from the very sparse and small manual currently sold by Myford for this machine. Of course i may have the wrong end of the stick but it might help. It is not a difficult job to remove the saddle to gain access to the nut to check, you may be able to see it looking up from underneath the knee just to check. If needed i can copy other bits of the manual. The nut is part no 80.

Hi The nut looks like it’s designed to be tightened with a C spanner and has a tab washer folded into one of the slots, so unlikely to be loose in this case. Is it simply a case of the dial assembly coming loose? I’m not near my machine at present so can’t have alook at mine. Might be worth removing the handle and dial assembly to investigate, sorry the picture didn’t open the only way to get a readable drawing was to photograph it, the manual really is tiny! Does the knee elevate and lower as it should?

Dave

I have just remembered the whole assembly that carries the shaft is held on to the side of the knee by either 6 allen bolts or 4 bolts and 2 dowel pins. Undoing these will enable the whole casting to be easily removed so you can check it out on the bench. I worked for an importer of these machines for a short while, but this was around 1980 so all a bit hazy now!!! but they are good simple and robust machines. hope this is helpful. I’m out tonight but can have a look around my machine in the morning. From memory removing the shaft is only achievable by removing the nut, wormwheel and key  and taking the shaft out frontwards. I can’t remember how the drive dog that engages with the handle, and also forms the inner part of the dial is removed, i’m sure it has a key but other than that memory fails!

Dave

Had a look at my mill today and the casting that holds the shaft does indeed come off with 6 allen screws on mine, as Lathejack says they have been fillered over and painted but easy to see the dimples where the screws are, this should enable you to get to the nut and check the shaft without removing the table and saddle. As far as I can make out in the gloom under the knee that the nut on mine is flush with the end of the shaft pretty much like yours. I can’t see any evidence of a locking tab on mine, which looking at your picture yours seems to have. But as you say a determined student could probably wind the table right down and shear off the tab on any locking device, loosening the nut. good luck and please let us know how you get on.

Dave

Incidentally I couldn’t remember why I had dismantled one of these, but just remembered a few we supplied were fitted with geared dual imp/metric dials supplied by an outside firm requiring much modification to fit.