Abstract: The disclosure pertains to a tool holding device for accurately locating a cutting tool relative to a workpiece and thereafter advancing the tool into the workpiece to a predetermined depth during a continuous advancing movement of the tool holding device.

Abstract: The cutting tool may be employed to shape an internal hole, provide a form to the outer periphery of a workpiece, or shape a hole to a predetermined form while cutting an exterior profile to a desired shape. The tool has a shank with an oval shape flange with a tool-supporting portion having a similar oval shape flange with mating apertures in the flanges. The apertures in the first flange contain a thread while the holes in the second flange are somewhat enlarged. Three set screws are provided in the second flange at each end thereof in engagement with the screws which retain the flanges together. The set screws shift the second flange in any direction relative to the first flange which slopes relative to the axis of the shank so that the tool is offset at an angle to the axis of the shank.