This section is from the book "Boring, Recessing And Multiple Turning Tools", by Albert A. Dowd. Also available from Amazon: Boring, recessing and multiple turning tools.
The cast-iron valve cap shown in Fig. 9 is another example of a piece of work having three grooves equally spaced, and in which the lower groove is at a considerable distance from the turret. This piece is finished complete in one setting and is held by the outside of the flange in the standard chuck jaws C, being supported at three points by the buttons D. This tool is somewhat similar in its operation to that shown in Fig. 5, except that it is arranged in a vertical instead of in a horizontal plane. A heavy cast-iron bracket is bolted against the turret face K by screws L, and a locating plug J centers the device in the turret. The bar H is of steel and has a pilot G at its lower end. This pilot is hardened and ground to fit the bushing E which is inserted in the center of the table. The top of the bushing is milled out to leave three projecting pads F. These pads form a positive stop to insure the correct height; it will be noted that the tendency when in action would be to keep these pads clean and free from chips or dirt. The upper end of the bar is shouldered and is fastened to the bracket. As in the former instance the operating rod Z is flatted at certain places and angular tongues P are provided. These tongues mesh with corresponding grooves in the tool carrying blocks 0. The section X-Y gives a good idea of the construction.

Fig. 9. Another Multiple Recessing Tool used in a Vertical Turret Lathe.
The tools Q are held in place by the short set-screws W in the square steel blocks 0. The backing-up screws R permit of rapid and easy adjustment. At the upper end of the operating rod the rack N is cut and the pinion M meshes with it and operates the rod. The handwheel through which the pinion is operated is indicated at U by the dotted lines. This portion of the mechanism is identical with that described in Fig. 5. The tool V in the side-head turret is used for facing the end of the casting during the progress of the recessing operation.
 
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