Monarch and Lodge and Shipley were big makers of T-lathes. T-lathes were developed for the rings used in early jet engin parts. And in the 1950's Monarch could not build these fast enough. Production went into the 1960's, then these machines lost favor to the new NC machines being built. From my understanding these parts had odd contours which was best done with tracers, which Monarch was the leader in the field at this time. I am not sure if Lodge built the first T lathe or if Monarch did, they both built a lot of them.
Starting in 1978 Monarch start build VTL's, and they built a fair number of these until they closed. The castings were imported from an Italian builder (I can't think of their name), and Monarch put on the controls, tool holder, and other key features. They built a huge one with a 12 foot table that held tolenerces of that of a EE. It took a lot of reworking it to get it to meet specs, but the crew there pulled it off.