It's a knurling tool made to do that. Most have two small rollers with grooves on the outside of the rollers. The one in the pic is a diamond pattern, some are just straight lines. Takes quite a bit of pressure pushing the two rollers into the part to be knurled. And yes you don't turn the lathe very fast.
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Terry
O,100,72,102,123,104,124,105
125,129,149,1200,982
(2)2182s w/60in Habans
3225
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