Here's a very handy tool for checking runout on your lathe.
Simply position the dial gauge mounting shaft in your tool rest holder so the tip of the indicator contacts whatever you're checking. As you rotate the lathe spindle by hand runout will be displayed on the dial gauge.
The photos show the dial indicator being used to check the runout of a pen turning mandrel. If you want to make perfectly concentric pen barrels that will match the pen hardware perfectly you must have no runout. This is a great tool for checking to see if things are running true.
The angle of the dial gauge on the mounting shaft can be adjusted. Simply loosen the mounting screw, adjusting the dial gauge to the proper angle and re-tighten the mounting screw.
The dial gauge has a large 2 inch diameter face and a 1 inch of travel.
Comes standard with a CNC machined 5/8 inch diameter solid steel mounting shaft.