Rapid lathing steel for groove lathing

Claim 1

A HIGH SPEED CUTTING ELEMENT FOR USE IN CUTTING GROOVES WITH A LATHE, COMPRISING: A BIT HOLDER; A CUTTING BIT HAVING A HEAD, WHICH CARRIES A CUTTING EDGE, AND A SHAFT INTEGRAL WITH SAID HEAD, SAID SHAFT BEING RELEASIBLY CARRIED BY SAID HOLDER; SAID HOLDER COMPRISING A SHAFT PORTION AND A MAIN BODY PORTION INTEGRAL THEREWITH, SAID MAIN BODY PORTION BEING LOCATED AT AND FORMED IN PART BY ONE END OF THE SHAFT PORTION AND COMPRISING AN ENLARGED PORTION OF SUBSTANTIALLY THE SAME THICKNESS AS THE SHAFT PORTION BUT OF A SUBSTANTIALLY GREATER WIDTH, WHICH GREATER WIDTH IS FORMED AS A PROJECTION ON ONE SIDE OF THE MAIN BODY PORTION; MEANS FORMED AT THE EXTREME END OF THE MAIN BODY PORTION RELATIVELY AWAY FROM THE SHAFT PORTION AND ON THE SIDE OF THE MAIN BODY PORTION REMOVED FROM SAID PROJECTION FOR RELEASIBLY HOLDING THE CUTTING BIT; A SECTOR SHAPED RECESS IN SAID MAIN BODY PORTION FORMED IN PLANES SUBSTANTIALLY PARALLEL TO THE PLANE OF SAID PROJECTION OF EXCESS WIDTH, SAID RECESS EXTENDING THROUGH ONLY A PART OF THE THICKNESS OF SAID MAIN BODY PORTION SO AS TO LEAVE A PLATE-LIKE PORTION OF THICKNESS SUBSTANTIALLY EQUAL TO THE LENGTH OF THE CUTTING EDGE OF SAID CUTTING BIT; SAID MEANS FOR RELEASABLY HOLDING SAID BIT BEING FORMED AT A CORNER OF SAID PLATE-LIKE PORTION AND COMPRISING A CONICAL HOLE TO RECEIVE THE SHAFT OF THE BIT, WHEREIN THE SHAFT OF THE BIT IS OF CORRESPONDING CONICITY, AND WHEREIN SAID HOLE EXTENDS AT AN ANGLE OF SUBSTANTIALLY 45* TO THE AXIS OF THE SHAFT PORTION OF THE HOLDER.