It depends on the type of petrol tap you use. Some had a parallel thread with a flat flange and copper washer to seal with. Others had the tapered thread like a pipe fitting.
+1 on a tap being a much easier way to go, specially on a tapered thread, which would require either a taper turning attachement or offset tailstock in order to screwcut on an angle. (Tip, check the fit of your petrol tap into the boss thread before soldering the boss into the tank.)
Your 1/4 gas thread would be 19tpi, a bit of a mongrel that IIRC usually needs an oddball 38 tooth change gear on a lathe with an 8tpi leadscrew. (Which I think your Southbend has). I dont think the Yanks supplied a 38 tooth gear with their lathes because they were clever enough to avoid 19tpi threads. But if you ever do find one somewhere, you could run a 40 – 38/20 – 50 gear train to get 19tpi. 1/4 NPT on the other hand is 18tpi, if you use an American petrol tap.
Edited By Hopper on 15/12/2016 12:00:25
Edited By Hopper on 15/12/2016 12:13:40
Edited By Hopper on 15/12/2016 12:14:55