Abstract: A vertical spindle pedestal, especially for attachment to a lathe, which vertical spindle pedestal includes a vertical column and a motor driven vertical spindle vertically adjustable relative to the column, the vertical column being a hollow one on which a spindle housing is vertically slidably supported. A tension band is attached to the housing and guided over a reversing roll carried by the upper end of the column to a free end connected to a tension spring located inside the hollow column and anchored to it, the vertical column further carrying means for vertically adjusting the spindle housing along its length. The means for vertically adjusting the spindle housing includes a rotatable vertical lead screw supported by the upper end of the vertical column for rotation and against axial shifting which lead screw cooperates with a lead screw nut fixed to the spindle housing.