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Monarch 16" Lathe SN 1-7154?

Nope, someones' asset number or the like.

Its a plain bearing threaded spindle nose helical head likely from the twenties
(the lift off covers over spindle bearings are for oiling these plain bearings)

Actual serial, if there, is stamped into machined cast iron at right end on top in between two front ways

Here is a somewhat related pub dated 1930 - thanks to John Legge and Greg Menke - somewhat related because it shows the TIMKENIZED head stock that replaced the plain spindle bearing version

http://pounceatron.dreamhosters.com/docs/monarch/monarch-modelc-setup-bulletin-127-1930.pdf
 
Easy give aways for more modern is the cam loc spindle nose shown in this late thirties / early forties brochure
 

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I see this is for sale close to me again, would this early of a lathe be a poor choice for a first time lathe purchase? Thank you.

Depends if you want an old slow plain spindle bearing lathe - made EXPRESSLY for HSS tools

Note input pulley speed less than 400 in the photos - 345 in fact

Also are you up for approximately zero support for "parts"? A similar vintage South Bend is very limited but way ahead in this respect..

If it needs a widget - or a major gear, you will be the provider of that need - with whatever knowledge and skills are needed to MAKE same

Thumbnail is the largest plain bearing Monarch I have ever seen - 42"
 

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