Abstract: A U-shaped holder includes free ends which may be adjustably drawn together by an adjustment bolt such that a bushing positioned in a cavity formed in the free ends is adjustably clamped. A magnetized dowel pin is eccentrically positioned in the bushing. A locater pin may be positioned in the lower end of the cavity and be urged downwardly by a spring between the dowel pin and the locater pin. The bushing is of non-ferrous material to shield the locater pin from the magnetic dowel pin.

Abstract: A press brake includes gauges on opposite sides of the punch for positioning a sheet of material being worked upon. Each of the gauges includes a magnet in the end abutting the work piece. The magnet on the back side of the punch is carried on a rod adjustably positioned by a U-bolt. The end of the rod abutting the work piece and including the magnet is convex in shape to maintain tangential contact with the work piece and thereby allow slight misalignment. The gauge on the front side of the punch is made from sheet material and has a tapered front end which includes a transversely extending surface including the magnet. The method of forming the work piece into a finished item includes positioning the front gauge a distance away from the centerline of the die and punch equal to the length of the finished work piece. One end of the work piece is positioned against the back gauge and the punch is operated. The work piece is then rotated 180.degree.