During the 1930s the largest of the Craftsman 12-inch wood lathes had been based on an Atlas metal lathe (reduced to its basic elements) but with its taper roller bearing headstock and other refinements it must have been considered both over-engineered - and over-priced at $45 - for its role as an amateur's wood-turning lathe. It's replacement, introduced in 1939, was almost certainly manufactured by "Power King" (a company later absorbed by Atlas/Clausing) with the same" 534" prefix being used on both Craftsman and Power King models.  This 10-inch x 36-inches model was a much simpler machine, though perfectly well made and, at $26.50, a very much more modest price. The lathe featured flat ways 11/2 inches wide with the edges of the central slot machined to guide the tailstock. The headstock spindle, which was threaded at both ends, ran in the by-now-familiar and sealed-for-life SKF ball bearings - and featured a cast-in guard over the front of the headstock belt run. The model number associated with the machine above was 534-06260.

New for 1939 was the tiny 5-inch swing by 12 inches between centres "Junior" lathe.
Only 231/2 inches long by 4 1/2 inches wide and 61/4 inches high it had a 5" tool rest and cost just $1.59 ...

By 1941 even the Junior lathe had been given "Streamline" cosmetic treatment - whilst the price almost doubled - to $2.95.

The only real change for the 1940  season was the introduction of a semi-enclosed headstock for the 8-inch Companion lathe - and the first hints of ornamental styling in the "streamline" flashes on each side of the headstock and tailstock.
In 1941 the identical lathe was renamed the "Dunlap" (why?) - which was Sears new label for the cheaper machines in their range.

In 1941 both the 8-inch and 9-inch Companion lathes were renamed "Dunlap".

1942/3 Dunlap 8-inch wood-turning lathe - the last catalog picture until production restarted in 1946 and they became freely available again for the 1947 selling season (1948 Catalog).