I have a small Electro Mechano high speed sensitive drill press. It has what appears to be a shop built arm on it that I haven't been able to figure out a purpose for. Perhaps you guys might be able to look at the images and hazzard an educated guess. It is the piece under the drill assembly with the adjustment bolt and jamb nuts which push against the drill.

Electro Mechano sent me a few new bits for free, including new speed indicator and rivets.