If it is a 3 Jaw Chuck, (self centering), there should be one set of jaws for internal holding small diameter work, with the longer stepped part of the jaw towards the centre, and and another set, for larger diameter work, with the longer stepped part of the jaw on the outside, away from the centreline.
Each jaw should carry a number, 1, 2 or 3. Each numbered jaw should only be fitted into the slot in the chuck body with the same number, starting with No. 1, then No. 3 and finally No.3. The trick is to look into slot 1 and rotate the chuck key until the start of the scroll just becomes visible. Insert jaw 1, and rotate the chuck key, until the start of the scroll becomes visible in slot 2, insert Jaw 2, and then repeat with slot 3. This applies whether the Internal or the External jaws are being fitted. If you pick up the scroll in the wrong place, the three jaws will not meet in the centre. You cannot reverse the jaws in a 3 Jaw Self Centering Chuck.
For a Four Jaw, Independant chuck, you merely remove the jaw, reverse it and reinsert into the slot. The adjusting screw only operates that particular jaw; which allows you to do at least three things.
1) Hold work more accuately centred than in a 3 jaw chuck. (Virtually no 3 jaw chuck will centre work as accurately as you can in a 4 jaw. But you will need a Dial Test Indicator to allow you to reduce the eccentricity to a minimum)
2) Deliberately set work off centre, to allow drilling, reaming or boring off the centreline of the workiece.
3) Hold irregular objects with required centre point on the centreline of the lathe mandrel, (spindle)
H T H
Howard
P S You will get lots of help on here, from folk much more knowledgeable and skilled than I. Don't be afraid to ask!
Edited By Howard Lewis on 12/01/2018 15:37:11