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 work A shown in Fig. 3 is a malleable iron automobile hub with a cored taper hole which runs out of truth very badly. Therefore it was necessary to design a starting tool of the single-point variety in order to generate a true running hole, so that the subsequent tool would start properly without being influenced by the wobble of the core. This tool and tool-holder are very simple, the tool itself being a piece of round high-speed steel bent over on the end and ground to cut a diameter a trifle smaller than the large end of the tapered hole. The holder E is a piece of machine steel of cylindrical shape, which is ground on the outside to fit the turret hole and on the inside to fit the shank of the tool B. Two set-screws D are used to hold the tool in position. It will be noted that the end of the cutting point is ground very nearly square so that it will not ride up on the scale. The tool is not made for continuous boring but is merely used to generate a true hole for a short distance into the cored portion of the hub.

Fig. 3. (Upper View) Single-point Starting Tool; (Lower View) Boring and Facing Tool.
 
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