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#2 taper should be the same on all machines .... for peace of mind ask the shop if you can return it,, if it does not fit ,,, i think it should as i have used tapered chucks from drill to lathe on many occoations,,, pete
There is a spiral spring on the left side which has failed. It has a cover that looks like an undersized hockey puck (usually chromed). The spring has either slipped out of place or is broken. Carefully remove the cover, (leaving the spring in place) to investigate.
Release the belts and check if you can turn the chuck by habd, if the chuck won;t turn, two things could be wrong, 1) the quill bearings are bad or 2) the shaft that runs down thru the quill could ve rusted causing a restriction, if that's the case, WD 40 should loosen it.