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It suggests being made as some type of comparator rather than absolute measurer, and the pin might be for locating a centre or reference-cylinders.
Which is a shade unusual except other items in the collection have a similar ‘bit special’ whiff to them. Nigel’s suggestion it’s a comparator makes sense, but we don’t know why. Comparators are good when you need one!
Be interesting to know what the original owner’s background was. Not a hobbyist with a non-mechanical engineering background like me I think; more likely this chap was a pro, possibly ex-tool-room, who enjoyed this as a hobby and after retiring. But in retirement the opportunity to tackle full scale tool-room problems diminishes, so kit that made sense when he started ends up in storage, in bits! Gets worse as health declines, my workshop is in chaos, with several part builds and tool assemblies that only make sense to me.
The tools being identified make more sense in a high-end workshop than mine. Some of them hint at production work. That creates a problem in that a tool might have to be reassembled correctly AND then understood in context before it’s value is realised.
I advise beeza not to rush this. Objects that appear to be junk now might suddenly become gold-dust once their purpose is understood, not just what they are called. One of the items looks like a Keats Clamp, not obvious to a beginner what it’s for, but highly desirable when a turning job calls for one. A beginner might not realise the value of a Keats Clamp for several years – it’s the nature of the job that triggers the need for one. So a tool goes from waste of space to ‘OMG where is it‘ in a blink.
There’s a lot to learn about machining. I have a good technical library, so the theory is no surprise. Theory’s not enough though, there are a myriad of practical issues to solve as well. And a lathe is rather like a musical instrument, takes practice to make it work well, plus an understanding of materials, tools, work-holding and technique. Good eye-sight, muscle coordination, talent and aptitude help too!
The forum is extraordinarily helpful, plus me reading the magazines carefully over several years. Long build articles often contain hints and practical details so don’t skip over them just because you have no intention to build a GWR Wotsit. Build articles are much more than a list of instructions, and a great deal about tools made sense to me after studying them. This is a deep hobby, which can be enjoyed by keeping it simple and/or exploring advanced topics. Like what’s this strange tool used for!
Dave