I don't know how I managed all these years without one of these. Anyone know what it is? Marked Union tool co orange Mass. My guess is something to do with a metal lathe which I know less than nothing about.

Center gauge-
"Center gauges and fishtail gauges are gauges used in lathe work for checking the angles when grinding the profiles of single-point screw-cutting tool bits and centers. In the image, the gauge on the left is called a fishtail gauge or center gauge, and the one on the right is another style of center gauge.

These gauges are most commonly used when hand-grinding threading tool bits on a bench grinder, although they may be used with tool and cutter grinders.

When the tool bit has been ground to the correct angle, they may then be used to set the tool perpendicular to the workpiece.

They can incorporate a range of sizes and types on the one gauge, the two most common being metric or UNS at 60°, and BSW at 55°. Gauges also exist for the Acme thread form."
http://en.wikipedia.org/wiki/Center_gauge

Thanks Papaw, I had no real clue other than they sold a lathe at the sale.

I have one of those that I received with my tools when starting my apprenticeship.

That's around 46 years ago.

Batz

I used the fishtail gauge more to square tool in lathe with piece to be threaded. I had special fixture to grind point on tool.

A simpler variation was often supplied by the twist drill companies for sharpening drill bits to the correct angle, usually with only the main angle cut out...

You can never have too many ways to measure things :)