Thanks guys. Black wires were the feed and the red wire wasn't even connected to the motor.
I have since gone ahead and tried it out with the new motor and it seems to work fine... White to white and black to black and no smoke. I used another switch so I could test remotely and shut it down instantly.
Not sure how to ground it though.
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Well the motor was grounded to a mounting screw in the switch box. Power is grounded to the power box. Is that good?Not sure what you have to work with in the way of wiring means to easily address grounding the motor.
Take pictures of the wiring between the power source to the switch box & from switch box to motor.

seriously, before you worry about the ground, have you checked the voltage across the 2 blacks?
are the r,w,b wires from the 120 motor or the 240 motor?
if it's the 120, the wires should be red, white & green or bare . which colour is the ground?
the ground can mount to the steel box, assuming it hs a ground thru the armored cable feed
Well now I see a green wire from the motor cable terminated in the switch box. The rubber cord looks to be passed through a bx connector (missing set screw). It should be replaced with a strain relief connector.
Does the lathe have 120v on it?
What plug is on end of the power cable to the lathe?
How do the 2 black wires get to the box? Can you replace them with a black, white and green? AND they will need to provide 120v.
okay, be careful. it sounds like you're wired to 240, the motor wont last if that's the case.
measure the voltage across the 2 blacks & see what you have for voltage seriously.....
Sooo....1/10hp is around 75 Watts.
The motor says right on the nameplate that it draws 2.2A, or 264 Watts
So its much closer to 1/3hp or highly inefficient...*slight* difference from the 1/10 rating lol.Yea I sped by that.So its much closer to 1/3hp or highly inefficient...*slight* difference from the 1/10 rating.
480vac input power and no manufacturer is going to require 2 separate feeds...I've seen illegal add-ons like 120vac receptacles wired from one line to ground without the transformer and always removed them.
1 line to ground on a 480 system is 277V
Somehow I kept missing your posts. I don't have 220 power so that would be impossible? I haven't done anything other then a couple 5 second tests so far just to see if it worked.
You're figuring the wattage on 747.5 watts per horsepower, without any losses. NO machine on Earth is 100% efficient.