Well nothing like answering my own post but I'm getting good at it HE! HE!
The guy I bought this Lathe from said it had not been used for some years since he closed his business. Even when it did work, I don't think anyone ever cleaned it.
And two handles that would not turn were just gummed up with really old grease,
that and the weight of the pieces that slide down the rail would not allow them to do so. It has some good safety modifacations, but then regular maintance was ignored.
I am hopeing to get out there with my buddy and get it all cleaned up this week.
I don't think the fluid in the trany has been changed since the 50's which is 20 wt. motor oil, the big plate has to come off the side of that too. The gasget is shot and is dripping oil on the electric motor down below. Maybe the engineer was just trying to keep the motor lubricated. HE! HE! Kurt