A repair job to a wrench called for a slotted axle screw to be fabricated for a missing original, a piece of rod was threaded on one end and marked for the cutoff length. A simple slot would suffice at the cutoff end, but it being just a small headless set screw meant that an accurately centered slot was demanded else proper installation could be compromised. This is how that problem was solved with typical shop hand tools.
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On a piece of scrap wood, make a straight centerline, and mark 3 equal spaces. The distance isn't really critical, so make it comfortable for handling.
Bore a hole in the center for a friction fit of the workpiece, In this case it was a 1/4” [6.4mm] diameter rod. Flanking it, drive in two brads, headless if available, but a smooth shank and same diameter is what's desired. Drive them plumb and straight and also on their mark.
It's preferable to clamp this fixture in a vise, but use whatever means available to hold it steady whilst gently hack sawing away. An 18 tooth/ inch blade easily cut a slot about 1/8” [3.2mm] deep, plenty for the task to be. The action is simple; the blade is guided on the inside edges of the brads and spans the work, automatically giving a centered cut.
Job done, setscrew neatly and precisely installed. For even finer work, a jeweler’s saw can be employed to slot the smallest of screws.