This P&W lathe does not have the early tailstock that Joe shows above.
Also there looks to be a big problem with the front headstock bearing.
Rob
I first wondered if the lathe had been adapted to "relieving lathe" somehow - or a more exotic modification like eccentric/oval turning. But looking back more likely a "crash."
The lathe does show some early features - like the brass nameplate and a disk back gear (but not turned.) Other features are more recent like the tailstock (seen the corner of in one pix) and the "chip horns" on the saddle/carriage.
The rise & fall feature does indicate a lathe made before the widespread adoption of high speed steels, but rise & fall continued well beyond this, particularly in New England.
Note the absence of a weight (as shown in the two pix.) The height adjustment may be made by a crank or large thumb-nut - but I'll bet it incorporates a sort of "ball & socket" joint to accommodate the angular displacement of the saddle - and yet hold the saddle to the gibbed carriage. Which does away with the need for a weight. This would be among the last designs of "rise & fall"
Check the paint. If it seems to have an underlay of black then this is a P&W lathe made before 1882. It was that year that P&W showed up to a Boston Machinery Show with all their machines done in "machinery grey" and "wow'ed" the onlookers who were expecting the usual P&W black.
Pricing is er, "ok" but be prepared to dicker with a buyer. A good clean user lathe with all the bells and whistles is probably worth it. I think here you're selling function - not appearance.
As it has been for Pratt & Whitney since their beginning.
Joe in NH