the petiods of rest of the punching m,,-6h,,tnism ,tncl for discon@ecting' s-Llc,h driven member therefrom during the operation 6f the punchilig mechanisn-t; sLibstaiiti-,Ily as specified. 5. In a machiiie of the character described, in conibinatioii: a driveli men-iber; a reci rocatory punchinomd,-hanisw- operp "!, atecl by s,,tid driven men-iber; a drivin(y ineni10 ber; meaiis for intei-mittently clutchi@g, said clrivin member -with said driven ineiflber for elfecting an iniermittent. operatioll of the p-Linchino- mech,,tnism.; a feed chain proVic -n ed -with material en.gaging i eans for ,id 15 vaneidg material to-ward aiid from said ptinching mech,,inism; ,t driven member for operating said feed chain; means for clutching sttid last named driven m@mber -wiuh the, aforesaid driving meinber, cltirin- the pe@o riods of rest of the punchino,- mechani,sm ai-id for discolinectin- such drive--.a member therefrom clurin- the operatioii O'L, the punebing i-i-iech-,tnism; ,Lnd Me"L@,is eooperq-ble, with said material-eng,,toiii(y me,,ins t, .1@ 25 T()r Tioldi-.ig the m,-Lteritl in p-Linching position; sLibstantially as specified. 6. In a machine for caiieeliiig b,,tlik notos a ,tncl the like, in co,mbinstion: clrlven iiiember; ,t reciprocato.-,,y punching inechanism 3 o operatecl by said d-, iven member;. a dri.ving member; means for intermittently clutchipg stid driving member -,with said driveli n-iember for eitecting aii intermittent oper,,ttion of the plinching mechanism; and an inter35 niittently operable feedidg iiiechanism bavilig provision f'or -,tdv,,tiicing st,,i,cli@-, of separate sheets 6f rnaterial sucli as btiik iiotes toward and from said pLLnehing mechtnism; slibstantially as specified. 40 7. Tn a mtchine for c,,tneeling btnk notes and tl-ie like, in combination: an interiiiittentl' operable ptinching mechtnism; an iny termittently opera,ble feedino, niechanism, havin(r rne,,tns for jr)ositively @'clvuncing ,tiid 45 holdi i- in reo-istei-irg tn , position witli respeet to the@ plinebin- iiiech-,tnism staclk-, of sep,,tr,i-te sl-ieets of stich ,ts ba,nk notes; ,Lnd -,t clriving means common to botb s,,tid mech,,tuisms - sLibst,,tnti,,tlly ts specified. 5o 8. In a m,,tchine for canceling b,tnIK: notes and the like, in con-ibin,,ttion: ,tn intermittently operable p-Lineb.ing mechanism; ,in intermittentl.y operable feedino, mechaiiism hlving provision for -,tdvancing staelks of 55 separate sl-ieets of material, stich as bank notes, towtrd ,tiad from said puiiehin- mechanisn-i; -t constantly operable stacli:e@ mechnism for receiving and stacli:ing the stacks of plinched sheets disch,,trged by said feed6o ing mechaiiism'; and a driving means common to all of said m,.echanisms; substantially as specified. 9. In a machine for canceling bank notes and the like, in combination: a continuouslyoperating drin,ino- m .eaiis; a pun(-,hiiig mecht- 65 T nism driven iiitermittently by sa.id drii ing meai@s ,Lnd iiieludiiig p.unching d6vices positioiied on the opp'osite sides of the i-nedion lilies of st,,tcks of sep,,trate'sheets of@ inaterial slich as bank notes, fed:to said p-Linching 70 i-iiechanism, when stich sta'cks are ill p6sltion for being plinch d; and intermi 'ttently eol@erated meaiis foi@ feeding such stacli:s of material interniittentll@ to the., punchiiig mechanism; subst,,tntially as specified. 7 5 10. @ Ill El@ M,@ichine for canceling bank not-s. aiid thc,, like,. in combililtion -,. -,,t continu-iving m-lans,ia u mechanigm driven intermittently by said clriving nieans ,tnct including punchi-.-,io@, d6- 8o i@ices positioned -within tl-ie edges of 6 anj-respc@ctii,ely iii t-he four qiia,rters of stack ot-sep,,irate sheets of mhter-Tal, s-Liel-i as bank iiot fed to slilid pi-inching mechanisi-il, 'es' -,,ihen such steucks are in position for being 85: punched; and illt,- I,Mittently-operated enclle@@@s-belt fe6cling me,,iiis f @r feedin(-r such stack@ of material int(,,r@-nit.t,ently to tl-ie ptliiching mechanism,- substantially as specified. 9 0 11. In tt machine foi, caiiceliiig.bank notes 0 and the like, iii combinati n: a @'contin-Liously-oper,.ttino, driving nietns; a punching mech,,tnism driven intermittently by said dfiviiig me,,tns Ind including pu,nching de-- 95 vices positioned within the, edges of stacli:s: of separate sl-.ieets of material, such as b,%nk notes) fed to- said ptinel-iin ' mechanism 9 when siieh stacks are in position for being prin,checl., s,,tid punching devices @ acting to loo ].iol-,,l all the sheets of ,t stack during thei plinching thereof; and an intormittentlyoper@ttino, I iiae,,tns for positively feeding such stacks of sheets intermittently,to the punching mech,,tnism, the staclcs 6f sheets remain- 105 ino, in en(y,t-ement -with the feedin- mealns di-irii-io- th'e punchinz @oDeration; substan tially as specified. 12. In t machine for canceling btnk notes -and the lilze, in combinttion: a, drivpn merfli- 110 ber; t reciproc,,ttary punching mech,,tnisi-n, y operat ed b said driven member; @, driirino, memb er; ine, ,tns for iiitermittently clutc-.i ing s,%id driving member with said driven. menib er for 6iTecting an intermittent opera- 115 tion of the punching meehanism a foriv,,trdl y movable feed belt havine@ means for positiv ely advancin- and holdin-o, in registeriing I)ositioil, wit@ respect to the punching mech,,tnisni stteks of s@,,parate sheets of -120 in,,iteri al, stich @is bank notes;,@ and means for driving said feed belt intermittently; sub@t antially as specified@ 13. In a machine for canceling bank notes and the like, in combination: in intermit- 125 tently operable -punchinz mechanism; an intermitt ently operable forwardly movable' feed belt having means for positively adoi:tsly-operating di' ' 1) nehing

1,353,292 vancing q@nd holding in rec,,istering pbsition with respect to the punching n-iechanism stacli:s, of separate slieets of material, such as bank notes; and a, clrivino, n-ie,%ns common to both said puiriching meetani@m and said feed beltsubst,,tntially as specified. 14. In ,t inachine for cancelin- b,,tnk no'u-es and the like in combination: a driven member; a, i-eciprocatory punching mech@trlism 10 op(,rated bv said driven mpmber, and including pu-,ichin devices positioned on opposite sides of the medi,,tn lines of stacks of se-parate sheets of material, such as bank notes, fed to said punchi,19 mechanism', i5 when such stacks ai-e in position for being punched; a driving member means for intermittently clutching said driving member wilth said driven member 'Lor e:ffecting ,tn intermittont operatioii of the punching 20 mechanism - a feed ch,,tin for advancing the stacks of sheets toivard aiid froin siid punchin- mechanism; a driven member for opeira,tin7g said feed chain; ancl means for cluilehin@@ said 1,,Lst nained driven M;mber 25 with the aforesaid driving member, during the periods of rest of the punching mechanism and for disconnecting such driven mcinber therefrom during the operttion of the punching mechanism; substantially as specified 30 15. in a machine of the chtracter d@- scribed, in combination: a punching m-echanism; a chain for advancing mtterial toward tnd from said punchitig mechanism; and a materiar-enL),aging member carried by 35 st d chain and yieldable automatically under pressiire, when the mate@rial or a, portion tliereof rel-iiaiiis en(yaoed and arrested by the punching in-,chan@-'is@'m, to releaso the material from tl-ie chain; substantially as 40 specified. 16. In a machine of the character described, in combination: a, punching mechanism; a chain for . advancing nilterial toward Ind from said punching i,.-iecl-tanism; 45 %nd materi,,Ll-eno-a,cq'ng means c,,trrie,d by said chain and yioldabie ,tutoniatically under pressure in t direction opposite to the direction of feed thereof, when the mp&terial or a portion thereof remains engagect aud 50 rested by the puiiehing mechaiiism, '.o i-,-lease the m,,tterial from the chain; stidst@tiitially as specified HJALMAR'SWANSON.

It is hereby certified that iii Letters Patent No. 1,353,292, groaited Septeniber 21, 1920, upoii the application of Hialmar Swanson, of Chicazo, IRinois, for aii improvement in "Punchiiig-Machines," errors appear in the printed specification Cli requiring correction as follows: Pa@,e 3, line 13, for the word '@ connection" read con.nections; page 4, claim 1, read line 62 right side up; same page, Iiiie 77, claim 2, a) before the word "driven" insert the article a; age 5, line 125, claim 13, ior tb.e Cd p word "in," second ocetirrence, read an; and that the said Letters Patent should be read with these corrections therein that the same may conform to the record of the case in the Patent Office. Signed and sealed this 30th day of November, A. D., 1920. [SEAL.] L . B . M A N N @ Acti ng Com mis,3 ione r of Pate nts. Cl. 164-88.

UNITED STATES PATENT. OFFICE. IIJALMAR SV,,TANSON, OF C-'Z,-ICAGO, ASSIGNOR TO CUMMINS PERFORATOR COMPANY, OF CI-IICAGO, ILLINOIS, A CORPORATION OF ILLINOIS. PUNCI-IING-31ACIIINE. 1,353,292. Spec-ification of Letters Patent. Ptteiited Sept. 21, 1920. Application filed January 10, 1920. S,.-rial No. 350,627. Toa@tivhov@iti ?za,y con-ern: Be it known theu I, HiALiUAII SWAI-TSON@ a citizen of @uhe United States, i@esidin& iii Chicago in the, count-y of Cooli: and St,.tte o'L Tlliiiois, h@,@iTe inventea x ne-w c,-,id usef Lil Improvement in Puneliing-M,,tcliines, of -,vhicli tII6 follolvilig is a speciiic"Ltion. This inveiition relates to peri-orat,@ii(y or ettneeling macliines and the lili:e,,,tiid has l'or I 0 its uenei@@i,.l object ti-ie proi,ision of ,t gii-yiply coiistrliel@- ed tliougli highly efficient intcliiiie of this charicter, Nvliic@,, eilil)o(,Lies aiiiong other f-eattires, a novel alitom,,ttic feed of tl-ie .Ynaterial to -end froni the puiiehi:a,, o-,- cti@- 15 celin(- inechai@-.-s-m, the -feed o-L:L@,li(- -in@-ttei,ial being so timed Nvitl-i rel,,ttion to the operation of the punching 'or caiieeling- ri)echa.nism th,,,t m,,tteriall is pro--ressively adv,,tnced into the path 6f the . pu '@ching Lechanisin, 20 held in position stifficiently lono-. to pern-iit the puncliing inech,,Lnism to perforn-i its operation, ,tnd is then ftirther adv,iiiced to the Point o'L clischarge. A MOT-E detailed object of the iiivention 25 is tO Construct the feecling mechanisin in sucli m,,t.-nner that althougli hiahl@y e-i"ilei-eiit for performing its function oi - PLeedink the in,tteria,l, p,,trts of said feeding rnech,,tnism -,ire ,tdapted, on encounterin-- Lii-id-Lie 6r dc30 str-tittive pressures such as oectir -'L-Le th-e machine becoi-Des jamniecl, to yiel-,', ind to p-revent s-Lich presstires from c,,iLisliaoinjury to p,,trts of th6 niacliine. The invention has for othe@., objects suelii 35 other iml)j-ovements i-n coiistrlictioii tncl aclvanta(les in oper@t-tion as m@ty be i-oun(I to obt,,tin iii the mechnnism lier e'Ln@),fue,- de t,scribecl or claimed. in the @tecompanyin(y cli-a.wiiaus, forming a 40 I)qrt 6f this specificat-lon and sionvincy for pilrl)otz.@es of exemplificitio-n, ,t prefei,red form ,tnd rnanner in which the inveniioii m,,ty be embodiecl ,ind practised biit without .1iraitino- the cl,,timed invonti6n specificaII3, 45 to stich illustr,,tti-ve instanee or instances: Figure 1 is ,t front Olev,,ttion 6f ,t perforpting mechine COD8trLIcted i acc6 clance i@ith n r tlio inve:iition; Fl- 2 is a side elevation of ti-ie s@iine look-, 50 ing fromtlie ri-ht of Fig. 1; zn Fig. 3 is ',L top plan v.it,,w; I eniar@@-ecL vertic,,tl secti.orltil Fi L,-. 4 's ,ti ion ti@t@icen c @i (@, v,@t nti,,,tlly in t pl e -n dictited by the line l@4 of Fig. 1 Fig. 5 is an enlltrged horizont,,tl seciional 5-5 clevttion ttl-en s,ubstan-'Uially in a pltiie indicited by the line 5-5 of Fig. 1; Fig. 6 is an enl,,troed liorizontal sectional@ eleva-ti6n t,,tli:en sLibstanti,%Ily in t plane indicated by the line 6-6 of Fig@ 1; 60 Fig. 7 is ,tn'enlarged det,,tiled vei-tic,.tl seeti.on,,Ll elevation taken iii t pl,,tne iiidicated by the line @ .7 of Fio-., 1; Fig. 8 is Itn enittrged det,-iiled iertictil.seetional elevation talceii in ,t plaileindic.Lted 65 by tlle line 8--S 4,' Fio@ I Fi-. 9 i.s a.ii 4et,.tile-' verticil seetiolial elevation talzeii in @ pla;ne, inclicated by the line 9-,9 of. Fig. 2; Fig. 10 is a fragmeiit-,Lry det,,tiled vie-w of 70 the driveii SI-iift lookiii(y from tl-ie horizont,,tl plane ,in'd@ in -the direction of the arrows 9 10---10 of @Fi . 8 I Fig. 11 is an enlarged deitttiled -vieiv of the eltitch ctm lool@:ing f@om the pl,,tne ancl in 75 the direction of the arrokvs 11-11 of Ficr. S; Fig. 12 is an eiilarged ciet, tiled- toi) i)l@@n i,ieiv of a fra--me@nt of -tht feecl chtil@. Fig. 13 is t side elevatibn of the p -,I . As illustr,,tted 'in Fig. 12; iind, 80 Fig. 14 is ,t perspective of a b-Lindle, of bink notes per-'Lor,,tted by the m,,tchino, ilIListrited in the dr,,tivings. Th6 sqme characters of refe renc6 clesigntte the-s@Tme pcttts throughout the sever,,tl 85 views. In the ilIListrLted embodiment of tl-ie inv6iition the m,,tchine is especially de igned for the purpose 6i periori-ting 13-,tckages or bundle,@; of baiik notes and the like and for 90 convenie nce the present cl(@ scription 6f the machine wil.1 be corifiried to tl-iis use of ti-lo inveiition. Fe,,ttures of coiistr.uction of the maclii I ne - are retdilv slisce othe ptib e o-L r iises, howev@r, and it is manifest that the 95 scope, of 'Che invention is -7by iio means con-'tined ito the s.peeific tise ,t-.ici @recific embodiment herein described .Ls a;ia: illu,,@tr,,ttive ex" ,tinple Peferring to the dra-,@@inas the varl'ous 100@: p,,Lrts aiicl th i s@rumentallities o4! I e n t -.le ina@ chine tre stippo:rted by a t,Lble or platform 21. Moui@t ecl on the ]Dlttf 6rm 21 ,tre i:)edbstlls 22 t]]Ld 23 provided tlong their iacing, vertic,,ti sides Nvith:@aLlides 24 a.nd 25 ,tnd Llso 10 5 havin,- dt tl,,Ieir ilpper ends b6tLrin(ys 2o anc-, 27 -vvhi(4@ mLitLi,%1137 siipport ttie Ziin h6i-izoriL,,,tl driven sh@ft 28. A pair of e,,centfies

0 1,353,292 29 is mounted on the ,tfores,%id shtft 28 cind support6d by the respectii7e ecceT-it,.-ics 29 Itre collars 30 respectively pi,ovideci del)ending vprtical arms 31 -%vhich tre -n-iutti@-,Ilv pliroted tt tb eir lo-Nier ends to ,t f i-,,i me 32 motiriteci for vei,tictl sli.dingMOITC'rflepb' ill the herei-,:,.befoi,e mciitioned vertic,,tl guides 24 -.ild 25. T'lle '@rime 32 supports zt plurality oL' I)tiiielies @,3 ,tOtaptecl to P,,iss 10 tlii-oiligli @i-Iiiied holes in "I horizont,,il ('-Uidiii@y block 34 SLIPPC@i,ted by til-e loiver encls 6T tl-ie peCiest,,Lls 22 @Lnd 2'0, @tn(I to co6perate -vvith dies fornied -tn the die blocli: 35 moiinted on the platform or tqble 21. Witli this con15 structioi, the punches 33 ,tre loivere(l, ,trid eleva,te,t i-iito aiid @t-NVt)T 'L@roi@n the dies T-oi-iiiecl in the die block 35 ,ti etch rot,,ttion of the ii.ain @L 'rivoii shift 28. The punches 33 ivhich co6per,,tte with the 2o dies iormed in the die-block 35 -,Lre respectively positioned on the opposite sicles of tlib median lines o'L stacks of se ar,,ite slieets of p iii,-tteri,,tl such as the b,,tnk notes illi-istrated in Fig. 14, as eacli stack of said sheets is 25 'ied into pLineliinLx position. Durilig the punching operation, the punches themselves act to h6ld Lll the sheets of ,.t st@acic beinotn punclied, and the effect 6f the p-Linching ol,jeration is to punch holes in each'stack ol' sheets or bank notes, the holes beitg located ivithin the edge@ of the b,,ink notes aiid respectively positiolaed in the.four qti.- Lrters 0,(-. e,,ich bat-ik laote of a stack, with the result '@-hat the bank notes tre mutilated, pi@eiimi-. i,,try '-o cutting or slicing the stacli: o--'-' b,,nl,;: notes --for shil:)n-ient for purposes of recLe,- nptioli, consequeiitly no. part of the purched bank notes NvoLild be ag,,tin ,tvailtble fo,- eirculfttion. 46 . In accordance witli the invention, means 1 , s provicled for intermittently elLi@'chin@-,- tl-ie sliaft 28 ivith t IDower source, so as to eltect aii iiitermittent 6per@).tioii o-@' the shaf-t 28 'Itnd punch. Jouriialed on @,@he driven sh.9,1't 45 28 is ,t,drivi_ng iqy -vvheel '@16 acl,-.rited to be con iiected with a suittble source of poiver, Stich as an elecl@-ric motor (not'sho@-vn), ancl fixed to a o-ear 31 in mesh witl-i , cimol)erating oeir 38 thit is rotat,.ibly m6un'Lei-It on I 50 a sho,-t stub sh,,i-t 39 supported by ,i, bearilig 40 projecting frorq the pedest,,tl 23. The can-i oi)e@@tin.c, gear 38 is proil(lecl -,vi-th an ec@eiit@i.c -,@-o@ve 41, Nvil@-hi_n i@i:lias ,t roller 42 that pi,oiects -pi,or@i !-he T-,tce of th@5 -)er 6ncl of sa'.d cam 43 -.s 55 43 The ilp@' - for I mecl ivith,,,tn --LreLi,,ite recess 44 exte ii(,Iin-oin"Tardly from the @top f,,.ce thereof lll;i"l ha,,Tiiig its axissubsttntially coincideiit @vith the ,ixis of rotation of the hereinbefore 60 mentioned clriveii siiaft-I 28. S,,tid clriii6n shaft 28 is pi-ovided ivith@a coll-,Lr 45@,tdaT)ted@ to ent6r the arctiate c-Lit aiviy portion 44 of the cam 43, when the latter is in i'Lls @ elevtted position. Formed in the htib of the clrivincy 6.5 fly wheel 36 is t lon4yitt:tdiii--Ily extending socket 46 Avithin which is mounted a movable cl-utch piii 47 ' As s@h-own more particularly in l@,ilo-. 9@ the outer end 6f such, clutch pin passes throlio-ii the gear 3'@ and is adapted to sptii the periliheries of the col'lar 45 and 70 upper end of the cain 43; the inner end of s,,tid pi,ii beai-s agaiiist a coiled spring 48 positioned in the iliner end of the socket 46. An arcuate groove 49 terminatiilg at its opposite ends in appr oximau'ely radi@tl shoul- 75 ders 50@ 51 is 6tit away irom that face of the collar 45 in juxttposition with respect, to the face of the ge,- Lr 37; and the upper e'ncl of the cain 43 is f ormed ivith a recess 51-) havii-ig an iiiel-ined vertical 1,.ce 53, as shown, 80 more particulbi-ly in rl i (Y- . 1 1. The can-i 43 has t slotted piN,k,)t on the sttib @iitft 39 as indleited at 54 to Permit ul) and dow.a movements of the eani, ef@' ected by -Llie @rr@.ve-I of the roller 42 in the eccentric groove 41 g@ o-l' the gear 38. The ratio of the drivino, fly ivlieel 36, z@, getrs 3.7 .tiid 38 and otl-ior i),i@ts is such tliat, in the present,embodiment, the driveii sh,-@,ft 28 is clutc.',,ied to the driltin lieel 36 anci@ ()o g fly iv makes a complete rev6lution-on every third rei7oltition of the,. (- Ii-ivino- fl@ Ni,heel 36 in zn I @ other -woros, the ey-,Ie of oi)eration is sucii that, each operative movem(Iiit o-.' the driven sh,-Lf-l@ 28 is si-icceeded by t-Nvo idle rev6lLitions 5 0--c the dri-NT,11(1@ fly @-vheel 36 dui-iiio- lvvh'ch f] clriven sha -rt 9,8 is s'Uationary. This mode of oper,,Ltion is accoriplished by,the above. described carq 6ontrollied ellil.-ch mechanism in the folloni,ing wty: g-al- 37 is colista@atly ioo driven by the drii,ing fl@ wheel 36 as well as geir 38 in ir@esh with gear 37; the - @otation, of tlle eccentric groo@e 41 ctuses t vertic,,tl reciproet+ory movement of the cam 43, to shift the latter intermittently into and otit 105 of position for aiig,,tging the i)in 49 Nvhich is constantly travelinu iii a eirculai- PaU-h. Assum that the @ shift 28 is stati.on,,try and, that pin 4@ is ip- ,t retr-,,,,,cted p-sitioii, thoute cl of the pin trtvelsolter th6 T,,tce of 110 the collar 45 tin'(-lil the pin sril@es the gi@oove u 49, ivl-iereupon the I)in is advancecl by saicl spriiig into the groove aiid trtvels therein until it abuits a-ainst the shoulder 51. Engfto-ement of the pin with the shoulder bl'il5 completes the el tehin-)- of the fly,wheel 36 u to the shaft 38 and tl-ie latter m,,ike@ a com-' plete revol-ution. The p,,trts ar6 so 'uimed, hoivever, that to-,vard the end of the revolution o-Lc ihe sho@ft 28 the cam 43 is movtng 120 -toward the coll-r,@t5; -",hile at the s,-Lm-- time 'the 1:)in 49 is being carri@4 toward the iiicl@.n-,d ierticftl- T-ace 53 -,t the:-Lipper end of the C,,i@-n 43. J@ist tbout ,tt the end of the revolution o'l the sliaft 28 the pin is brought 125 i-.ito engr@gement ivith ,@aid. inclined f,ac6 53 of the cam 43 and riding along sdid incli-T-led 1"9co to the high point 55 is'retracted i:nto position. for releasing the collar 45 tnd shtft 28 from the fly wheel 36 ivhereui@)on said 130 , t@ I le

si,aft 28 stops turning. Wheii the p'm 47 moves out ofengagement wiuh the cam, it travels idly over the fqce of the now stationary collar 45 and on again arriving at the gi@oove 49 is again retracted by the c,,tm 43. On the third revolution of the fly wheel, ho-vvever the c,,tm 43 is in its retracted position and the pin is permitted to Pass al.ong the groove 49 until it strikes th@ slioulder lo 51, so ,ts to effect another complete revolution of the shaft 28 Each revoliition of the shaft 28 throligh the eccentrics 29 ,tnd other conn,ection hereinabove described e:ffects first: a down and 15@ then@,,Ln up s'urol@e of the, ' rame@ cai,ryiii,,j,, the punches 33. A coinstanfly tensioned band brake 56 is applied to a, brilce drtim 57 MO'unted on the shaft 28. This C,,Luses: the sh,tft 28 to stopqtijeli@ly Nvllenever the clutch @o@ pin is released and prevents any idle m6-NTement of the shaft. The invention f Lirther provide,-4 ,Ln @mproll-ed feeding mech,,tm'sm for feeding rhateri,,tl ii4to po@ition for bei'ng ptinched Avhile 95 the ptinches 33 are idle, holding the materia,l III punching position' on the do-wn ,Lncl iip silroke of th6 punche@i and then feeding the m,,Lterial to ,t p6int of discharge,. For this 1,5tirpose the flv wlieel 36 is provided with q 30'@ sprocket 58 that is geared by a, sprocket w -i,,i sprocket 60 rotatibly mountchain 59 it.I ed 6n the intermitteiitly opo,irable shtft 61 journ-,Llecl in stiita,ble begrings exteliding ab6i,e the t,,Lble or plitforni 21. The, shaft, '35: 61 is proviclecl AVith i brali:e drlim 97 e-.icircle@l by @, coiist,,Lntl3@-teiisioiied I)ral-,e b@incl 98 for stopping th,-- sh,,ift qiiielcly ,tjid prev,entin overthronv, CTLiring its periods of. rest. gprocket 60 is fixed -to a -ear 62 that 40'@ Meshes with t cam oper,,itin, @ear 63 tli,@tt is ad-,ipt-d to reciprocat-I ,i c,,tm 64 simil,,Lr to the before ment-ionecl ca@n 43 ancl controllinthe operqtion of -,L el-Litch @in for connectinc-r, 4'5 5o or Oiscoiinectin(y the s])i-ocket 60 ivitli resj?ect to the shaft. 61. The -nieebanisin for eltitchinff the shaft 61 to the sprocl@et 60 is similar to the ol-Litel-i mech,,Lnism herein,,tb(,@ve clescribecl for cltitchinu the fly Ai-lieel 36 to the dr".veti shift 28 and neeci not be redese@ibecl here it ivill be Slifficient to st,,tte that the 61 is dri-ven by.the_spi-ocl,,et 60 ivliile the piinches ,Lre,iclle so as to ada,ance materi,,tl into or o-Lit of 4.-lieir p,,Ltli. Tlie sh,q-ft 61 constitutes 'the dtive sli.aft for:@ -ft 55 plir of feed chains 65 lqnd 66 Nvhicli p-ass over sl)rocli:ets 67 fixed @ on tl-ie shift 61, thej3.ce throu-h ar, openino- iTi the T)Iat@form 21 to tivo pg'lrs of idle, sp7ocl@.ets 6 -,,in4 .69 mounted belo-w the platform 21 ,ipd thence 60 d platform to a MO-Liptecl ,tbove operative reaches e on,,,, the ext'nd @il?Pposlte sides of the die pltte 35@ as. sli6wii 65 in Fig. 6,. and between a pair 'f ve' rtical guide@,, 71 motinted tb6ve th6 plat-.,Iorm 21@ Projectiiig from the ii-iner edcres of the respective chaiiis 65, 66 and a@@anged oppo@ sitely Avitli respect 'Lo e,),Ch othet are upstLiicLlng guiding finuers 72 positioned -,qt. 70 suitable points along the feed ch,,tins 655 66. Each fiiiger is yi6ldably mounted on its respective ch'Itin, so as to bo, capable of re,,irwtrd movomont -with respect to the direction of mov'emeiit of the chal,.i. Referring in6re 75 particularly to @Fl-&@-. 12 aiid 13@ the finger is pivotally jnotinted @on a s@tud '(3, projecting 1,,ttor,-Llly from the' insicle of the chain. Encipeling @tho stucl is a, 6oil s@rin(@ T4 ho@vin t, 9 oiie eiid i'n ei-igagement ivith the hea,d of th, e 80 stud and the otlit-.r end iii eii(rtl@@oineiit wit',, the lateral flano-e 75 of tlie fineer. The spriiig 74 operates to inal t,h,e fin,),ei't2l. normally in elevaled posit but permii-@s the fipger to yield rearwar sholild it en- 85 6ounter an obstrUctiOn, sue as might@ from ,t j,,tmrning of m@tteri,,il beiieatb. the punches while the chain is@ tt@:ki6ling alohg the side of th6 clie pl,,tte: 35. TI@is C-iiist@Lletion preveiits damage or brealdng off of the 90 feeding fingers, as they c,,tn readil@ -villd and p,,iss beneath an accumulation oT@niterial. A. horiz6nt,,tl feed, plate 6 is m6tii-itea flush -w.ith the die plate 35 ,tncl is prel@iably 96 rovided wit,h a, depending apron as p shown more patticularly in Fig. 4. Vt tlle dise.ha,rge end of the die plate 13' is a, discharo-e plate 78 havin- a hokizontal portion 79 flush lv'itl@i the cli6 plat'e and q dolvn- 100 w,,trdly inclineO, i:)Oktion 80 over which the ]:)Linched m,,terial dis6harges. In passing. i"rom the@ horiz6ntal ortion T9 oi tl-ie disp el-,arue plqte T8 to tile do,wnwardly inclined 1.)ortion or chii'Le 80 - the ptinch6d mi,teria,@ 105 passes beyoiid the influence -of the feed ch.-in8 and grdvitites to 'U-he clikhal-o-o p6iiat. As stated, the present ma CUlarly ddapted for punchiiio, ages of bank notes and the re 110 indicated, at 81 in Fig. 14. or a stack of separate sheets of materl as a package 6f bills, in position ov the die late 35 the guiding pldte 34,is provided p with a leaf spring 82 which ineurves be- 115 neath the pldte 34, as showii in Fio-, 4 The packages of bills are deposited one @y one on the feed plate 76 and a pair of opp6sitely dispo@sed fingers 72 movin- into enoa ement with the pacli:,,tge of - billw pu@hes the same, 120, forwardly until it arrives in punching liosition beneath the guide plate 34. On arrival of the package, in such position the cha-ins stop moviiia and the packao-e is held in position for b6ing punched by i@e le@f spring 8@ 12@5 'which 666pei-ates -y@ith the two filigers 72 in en-ya-6me@at with the, rear edoe of th@ p,,tcii:aoe. pun, n e ATter, the ' ches h,,t-@,e d6see d d t6. p6rforate the-bills and haye, been r(@tra6ted, ermitt6ntl n @halti@3 a(lvan' the int _V 6pera:ti ce i3@o, @g

over the 1-iorizontal 1)ortion 79 of the discha,rge plate 78 to the do-wnwardly inclined chiite 80, whereupon the punched package PoLsses beyoncl the chain and gravitates to a st,).ckii-ig inech,.inism. Tb.e stacli@ing mech,,tnism is constructed in the followinomanner: driven by the sprocli:et 60 is a constantly rotating sprocket io 83, that is geared by a sprocl@:et:chain 84 with a !-procket 85 mounted on. the stacker shaft 86. 8aid shaft 86 is provided with a ptir of stacker cams 87 that,aro ada ted t6 move p througli slots 88 formed in an apron 89Ae15, pending from the lowe.r end of tl-ie discharge chute 80. E,,tch cam is composed of a pair 'tel a oi ol)posi. y disposed 90, 91 resi)(,cti-vely, formed with oppositely extending 2 0 recesses 92, 93 1 and with , oppositely@ extending curvecl presser T,,ices 94, 95, tlie presser fa@e of one ctrm merging into the recess of tile opopsite arm, as shown. Mounted in front of the clepending apron 89 is an inclined sticli@er chut-e 96 of proper dimensions 25 to receive the p,,tck,,i es of bills, arran-ecl ip. g substantially upi-iglit I)ositioii, as sliown in Fig. The c,,tms 91 are const,,tntly roiatecl i-@i a counter-clockwise direction by the shaft 86- 3o L Ind -,vhen a -Dackage of perforated bills arrives at fhe lower end of the ch-Lite 80 it first pa:sses iiito enga-ement with the recesses 93 or 92 of tlie pai@ of c,@ms. , As the, recesses pa@ss, during the movement of @tbe c,,iins, 3 5 from beneath t-he pteka@@6 6f bills, the lpti'er isperinitted to fall b@tween ,L previotisly stacked p,,tekage and the apron 89. The rece(lino, moi7ement of the recess 93, for exam[Pl@. is accomparii6d by a movemept of 40 th(@ presser face 94 or 95 tovvtrd th-, falling pai.li:,,Lo,e of bills nnd the lttter pressei, Tac,es 9 @' IL en aging the face of the p, ci@:age, by reason ' of their curv,,iti-ire, pusli the ptek,,tge, ,tii.d the row of prev ously st-,teli:ed pacli:,,tges f6r41i. ward@y in the chtite 96 t6 mtke room for the the package from the punching position the periods of rest ofi t-he -anching mech-@ p ,tnism and for disconnecting such dri ven member therefrom during the op6ration of the p'unching mech-,tnism- braking means constantly oper,,ttive witli respect to both 70 driven members; and spring ineans en-aue,ible with the material fed to the punchin 9 Tnechanism for 7 holdinff such material in punching positi6n; substantial@y as speci-@ fied. 2. In a, m,,tchine, of the character described, in combinatioli: driven member'; a reciprocatory punchin- mechanism operated by said driven mernber; a driving mem Means for intermittently clutching 80 said ing member@ with said d'riven member effectin- an intermi-ttent o-pei-ation of punching- mechani m: a feed ch@in -L'or a ancing,m.-,tterial @.tow@rd and from said pundhing mechanism; a, driven member 85 for operatin said feed chain; means for - 9 clutelling said last named driv,en membei, -vvith the aforesaid driving member, durinthe periods of rest of the punching mechc,@iiisin and for disconnectin- such driv P-IQL go :Member therefroni dui-ino, tl@e' operation of the punching mechanism; and brakin 9 meaiis constantly, operative with respect to both driven members, substantialty as specified. 96 3. In a, machine of the character des-,ribed in combination -. a driven member; a reciprocat6ry punching mechanism operated by s-aid driven member; a, driving member; ineans for intermiitently clutching - said ]LOO d,@-iviil-g member with,said driven member -for eff--,-tin- an intermittent operation of 'Uhe punching mechanism; a feed chain for adv,,Lnei-n- material tow@rd and from said iching mechanism; a driven member for 105 pui r operating S,,tid feed chtin; mealls fo clutch7 ing s,,tid li named' d ven member St ri with the aforesaid driving member, during the, periods of rest of the punchincr - mechanism aiid for disconnecting such drive,n member 110 by thc@, tlierefrom di@ring the operation of the punching mech,,t,nism; braking means const,,antly operative with respect to both driven r@iernbers; and ineans engageable with the m,,tteri,-LI fed to the punching mechanism for 15 holdino, such material in punebing - position; stibstantillly ,is specified. 4. Tp- ,t uiachii-ie of the character de;(,i,ibecl in conibinltion: t driven m, einber; -@ reciprocalory p-Linching mecl-ianisin oper120 -@ted by said clriven m- ember; a driviiig nlei,-i!Doi,; means for iiitermitte-.itly eltitching said, (Iri-viii6- inember -with said driven - meii@iber i.oi, efrectij-a(,, ai iitermittent opp-i-ation of the prinching i-iiechanis-ni,; a f-eed ch,,,in f Or 126 advan@ing i-.iaterial t6w,,Lrd ,,tiid froiti said nc,,xt pack,,tge a bills chi,ite 80. Tlle invention as hpreinabove set @ forth is embodied in -,L p,,trticul-,,tr:form of copstrile60 tio@ri but m@,ty be variously embodied -@,,,ii,hin the scope 6 f 'tb,e he . reiiitfter rq.,-,(Ie. I 1. In a machit-ie of- the @ eb-arteter described, in combinitiod-: ,t drii,en i@nember - 55 .t i!-ecil)rocatory l@)uncliing mechLT-'iism opei-,-@tecl by .9@@ici driven -,nen-iber; a d@iving mclmber; me,,tns for i iit6rm-.ttently clu'@chinosaid driiina n-ieriber with s,,tid diiven member for eftectino, an intermittent'operation 60 6f - the punchiii,@ i@hechliiism a feed cli@tin for -,tdvancing materi,,Ll toiv,,trd and from: iaqW@DLU UOAIJP 'U: ! tusiu@egaoui @@uilqo-Lind plrs for 6pe@ati@g saicl feed-chain; means for. ptiiiehi-,ig a d--riven inember -for operating s,,,i(-.1 feed cliti-n; aiid raeans for ClUIL-.hin,- said last named driiten member el-Litchiiig said II.Ist nlmed driven member 65. with the aforesaid drivinlr member. durin 'v@ith the aforesaid driving i,,tem@er, dur'llig 130