What can't be seen in the picture is a pin protruding from the front
face of the headstock so the maximum rotation is about 350 degrees.
Currently it restricted to about 60 due to an internal component
catching. I have taken the side plates off and the knob on top is
attached to a ring which is around the main spindle but not attached to
it. On the spindle is an arm holding a track roller bearing which is
spring loaded to run against the ring. This would control how much
forward movement is given when the spindle is rotated. When I have
disassembled it further I shall post some more detailed pics.

Roger Shoaf wrote:

My guess is this is a spring winding lathe. The lack of ways and a cross
slide suggest this was never meant to do anything but turn. Also the head
stock seems to be a gear reduction box, and the bearings look like they are
lubricated with grease via zirks.

I am curious what you mean by:

The tailstock is spring loaded and when the headstock spindle is rotated

anti-clockwise as

you look from the tailstock moves towards the tailstock.