This section is from the book "Elementary Sloyd And Whittling", by Gustaf Larsson. Also available from Amazon: Elementary Sloyd And Whittling.
Lead pencil No. 3 is recommended for wood-work. Keep point of pencil about one inch long. In sharpening, remove wood with knife and point the lead on No. 1 sandpaper.

Fig. 4.
In using Compasses adjust point to equal length with pencil point and hold at top between thumb and forefinger.
 
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