Cutting tools with throw-away inserts

Claim 1

A CUTTING TOOL COMPRISING: A SHANK HAVING AT ONE END THEREOF A POCKET OPEN AT LEAST TO ONE SIDE OF SAID SHANK, SAID POCKET BEING PROVIDED WITH A BOTTOM SURFACE AND AT LEAST ONE BACK WALL; A FIRST BORE IN SAID SHANK, SAID FIRST BORE HAVING ITS AXIS NORMAL TO THE BOTTOM SURFACE OF SAID POCKET AND SUBSTANTIALLY AT THE GEOMETRIC CENTER THEREOF; A SHIM DISPOSED ON SAID BOTTOM SURFACE AND PROVIDED WITH A TOP SURFACE PARALLEL TO SAID BOTTOM SURFACE AND WITH A COUNTERSUNK BORE SUBSTANTIALLY ALIGNED WITH SAID FIRST BORE IN SAID SHANK; A TUBULAR MEMBER DISPOSED IN SAID FIRST BORE, SAID TUBULAR MEMBER BEING PROVIDED WITH A TAPERED HEAD ENGAGING THE COUNTERSUNK PORTION OF THE BORE IN SAID SHIM FOR HOLDING SAID SHIM IN POSITION IN SAID POCKET; A CUTTING INSERT BEING PROVIDED WITH A SUBSTANTIALLY CENTING INSERT BEING PROVIDED WITH A SUBSTANTIALLY CENTRALLY DISPOSED BORE HAVING AN AXIS SUBSTANTIALLY PERPENDICULAR TO SAID TOP SURFACE OF SAID SHIM AND ALIGNED WITH THE HOLLOW PORTION OF SAID TUBULAR MEMBER; A SECOND BORE IN THE BODY OF SAID SHANK ANGULARLY DISPOSED IN RELATION TO SAID FIRST BORE; A RETRACTABLE HOLDING MEMBER HAVING A CLAMPING END SUBSTANTIALLY ALIGNED WITH AND DISPOSED WITHIN THE BORE IN THE CUTTING INSERT AND AN ANGLED BODY PORTION PASSING THROUGH THE WALL OF SAID TUBULAR MEMBER AND DISPOSED IN SAID SECOND BORE IN THE BODY OF SAID SHANK; SCREW MEANS ENGAGING A FLAT PORTION OF SAID BODY PORTION FOR DRAWING SAID ANGLED BODY PORTION SO AS TO CAUSE SAID CLAMPING END TO FRICTIONALLY ENGAGE THE BORE IN SAID CUTTING INSERT FOR CAUSING AT LEAST ONE SIDE OF SAID INSERT TO PRESS AGAINST THE BACK WALL OF SAID POCKET AND THE BOTTOM OF SAID INSERT TO PRESS AGAINST THE TOP SURFACE OF SAID SHIM; AND BIASING MEANS URGING THE BODY PORTION OF SAID HOLDING MEMBER IN AN OPPOSITE DIRECTION WHEN SAID SCREW MEANS IS BACKED AWAY SO AS TO RELEASE SAID CUTTING INSERT.