![Switch Switch](/uploads/1/2/5/6/125655384/428621482.jpg)
A 'drunken' lead screw is one possibility, but not the only one. It's possible that the spindle is oscillating back-and-forth with each revolution, which is USUALLY a spindle bearing problem. There's a quick-and-easy way to check for this - it's called 'cam action of spindle'. If you have a fair-sized bearing ball, you can chuck a short length of bar, face and drill a axial hole into the stub, and then countersink a hole large enough that the bearing ball will seat on the surface of the countersink.
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Stop the lathe. Set up a dial gage so that the gage plunger points axially toward the countersink reasonably concentric with the lathe spindle. Set the bearing ball into the countersink and run the dial gage toward the ball so that the gage plunger holds the ball in place. Now, rotate the lathe spindle through at least a full revolution.
If the dial gage pointer doesn't move, the lathe spindle isn't oscillating; if the dial gage pointer does move, the spindle is oscillating. If you don't have the bearing ball, you can perform pretty much the same test by running the dial gage tip against a headstock center.
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