All cleaned up. 24 hour bath in Evapo rust and wire wheel.
I was going to say a tailstock but it is the drive side with a belt, so that would make it the headstock. Nonetheless......after cleaning it up, it looks great. Depending on the size, it would make a great desk or shelf item just for display. I LIKE it!!!!!
If you get some time, AND if you have a lathe or drill press, and if you have a large Norton Stone.......stone the top of the bed of the base, to put some shine on it, and if you have a lathe, or even a drill press, chuck up the chuck to another chuck so you can spin it and take some ribbon cloth to remove some of the pits. If the knurled knob is brass, then but some shine to it. The way it is now, it's probably beyond the use of precision work, but it is a very cool display piece of old workmanship, and very worthy of display. Maybe mount it to a piece of nice wood to help show it off.
Send it to me, and I'll work on it for you if you don't have the equipment. I think it is just a cool piece.