To shorten or modify the threaded ends of hex headed (up to 5/8") small caps crews I use a 5/8" spare drill press chuck with attached cylindrical mandrel. This gets chucked in the three-jaw of my ancient c1900 conehead 14x40 Hendey. The cap screw, with a nut the size of the cap a suitable distance from the head (and in rotational register with the head) is then chucked into the step-down chuck. It has never had accuracy problems in whatever I'm "slapping together".

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