…. I can turn the handle about a sixth of a turn with the slide not moving. …
I wouldn't worry too much about this. A bit of backlash on the cross slide feedscrew will not affect how well the lathe turns, as long as the gibs are correctly adjusted. I use my old Drummond Flagellator with more backlash than that and it will turn to tolerances of less than a thou.
If at some point in the future if you feel it absolutely necessary to tighten it up a bit, there are several ways to do it. Using the lathe as it is now, you could turn up a threaded insert and loctite it into position in the hole where the thread goes in the lathe saddle. This would require some tricky setting up in a milling machine to bore the hole true and straight before fitting the insert. Can't see from your pic, but you may be able to knock out the existing insert, if there is one, and simply instal the replacement.
Square thread taps are available from Tracy Tools and others to make the internal thread in the insert.
An easier but more expensive way might be to buy a readily available Myford feedcrew and matching nut. Their nut is held in position by a flat flange and two small screws, so the lathe saddle could be modified to accept it by setting up in a common drill press. Or make your own insert in the style of the Myford part and attach it with two screws. It's basically a top-hat shape with part of the "brim" of the top hat cut away to clear the cross slide body.
What make and model of lathe is it you are restoring?
Edited By Hopper on 19/11/2018 22:43:29