Very much smaller than it looks - and made in Italy by the precision engineering company Micromeccanica -  this  Type "Microtrapano RC50" miniature high-speed drill had all its rotating components balanced to ensure smooth running. Three models have been identified, all appearing to be very similar as to their mechanical construction and speed range, the RC48, RC50 and RC50/2 - the latter having its drive belt guarded by a rear-hinged cover.
As just three very high speeds of 2,000, 6,000 and 10,000 r.p.m. were provided, the machine was of limited general use and intended only for the drilling of tiny holes in components associated with the watch, clock, mechanical instrumentation and electronic trades. Power came from a continuously-rate single, 2-phase  or three-phase 50 Watt motor running at 2900 r.p.m. with drive to the spindle by a round belt.
Instead of a spindle held within a sliding quill moved by rack-and-pinion gearing, on the Microtrapano rigidity was improved by building a fixed spindle into the head casting - the whole assembly being moved up and down by a long handle protruding from the right-hand  face of the base casting. To gauge the depth being drilled, the column was engraved with ruler division with a small pointer attached to the head. At the back of the foot two adjustment screws were provided, that nearer the column being used to set the set the limits of the up and down travel, the other an adjustable stop. 
Other drill presses of a similar type to the Micrommeccanica (light, easily handled and reasonably priced) might include the now-obsolete English Wa-Co and Oldak and the American Cameron, a machine (in various forms) still in production.