According to Wobblypedia "
R8
This taper was designed by Bridgeport Machines, Inc. for use in its milling machines. R8 tapers are not self-holding, so they require a drawbar extending up through the spindle to the top of the machine to prevent loosening when lateral forces are encountered. They are also keyed (see image) to prevent rotation. The drawbar thread is typically 7⁄16″–20 tpi (UNF). The angle of the cone is 16°51′ (16.85°
with an OD of 1.25″ and a length of 15⁄16″.[13] (source, Bridgeport Manufacturer) The resultant inner diameter is slightly over 31⁄32″.
Tools with an R8 taper are inserted directly into the machine's spindle. R8 collets are typically used to hold tooling with round shanks, although any shape can be held if the collet has the correct corresponding shape cut in it. The collets have a precision bore with axial compression slots for holding cutting tools and are threaded for the drawbar. The R8 system is commonly used with collets ranging in size from 1⁄8″ to 3⁄4″ in diameter or tool holders with the same or slightly larger diameters. The collets or tool holders are placed directly into the spindle and the drawbar is tightened into the top of the collet or tool holder from above the spindle. Other tools such as drill chucks, fly cutters, indexable insert cutters, etc. may have an R-8 taper shank built into or added to the tool.
The R8 taper is commonly encountered on Bridgeport and similar turret mills from the USA, or on (very common) copies of these mills from elsewhere. The popularity is due in large part to the success of Bridgeport and other mills that were closely modeled after it and produced throughout much of the 20th century."