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The most important thing, in my opinion, on these old drills is the chuck. Does the chuck still work properly. Are the internal springs working and pushing the two or three jaws together simultaneoulsy and do they meet correctly. If so, then you are in business. Of the two handcranked ones, or eggbeater drills, the MF #2 is a really good one. People love those. I have a Goodall Pratt version of that one and love it. I want to get another one so I have one set for countersinking and one set for predrilling. High quality tool. The braces, those are nice looking too. Are they two or three jaw chucks? They should have a ratcheting feature that is adjusted on the neck at the 90 degree angle above the chuck. Now you have to find some nice auger bits for them tools.

Are there any bits in the handle of the MF #2? I think those actually have a cavity in the handle and the top unscrews. Wood threads if I remember so if it is stuck and you don't hear any rattling, I'd just leave it personally.

Here's a good link. http://www.wkfinetools.com/hus-bort...no2-1903-anatomy/mfhd-no2-1903-anatomy-01.asp
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