Thread: Bench Drill Press - Noisy Quill ?

I acquired a pre-loved bench drill press at auction. No brand name, made in Taiwan in 1984, 3/4hp. The chuck is stamped JT #2.5.
I believe it was not used much: no rust, very few chips in the paintwork. The belt was a bit frayed at the edges and seemed somewhat "hard". So after a good clean, lubrication and a belt change, I inserted a 3/8" drill in the chuck to check that the drill didn't "wobble" and was travelling vertically in both planes = all OK.

However, I noticed that, as the quill travels downwards, the noise the press makes changes significantly to a more squeaky rotating noise. There is no resistance when turning the handle, nor does the drill drift sideways as it travels down. What could be the cause of such changing noise?

I am somewhat "mechanically challenged": pulling things apart aren't too difficult but re-assembly is another question !!!

Any suggestions would be gratefully received. Much appreciated

Yvan