They usualy have a fixed cross slide with front and back tool posts, front for facing, back for parting off, traversing was done off the turret with a wide range of tool holders:- turning, drilling, threading, tapping, undercutting etc, it was realy suprising what you could do with them.
Good strong machines with very good bearings, we use to use them with air operated collet chucks with women operators that were very skilled a good operator could make them sing, we converted some over to pnumatics operation so one operator could run three machines, but ther's not much call for them now with CNC, that's why you can pick them up so cheap.
Stew