You say you habe a lathe so
Option one is to hold cutter in the chuck ( I'll get shot down for this) and mount work on the cross slide at ctr height
Option two, take a bit of 3/4" bar just over twice the length of your required cut, ctr drill both ends, cross drill in teh middle for a round tool bit and a grub screw at 90 degrees to that and cut it between centres


If the cut is along one of the short edges then hold it in the vice with some scrap on one side and cut a 7/8" hole with a boring bar or just drill it with a blacksmiths drill, much like I'm doing here, just position ctr of hole where you need it


Did someone mention a boring head?

Edited By JasonB on 11/05/2016 18:54:45
Edited By JasonB on 11/05/2016 18:57:21