An Australian-built copy of the American South Bend 9-inch "Workshop" lathe, the Parkanson was much less well-known than the other Antipodean versions sold by Hercus, Sheraton and Purcell. Parkanson was the brand name of Theo. Park & Son, Engineers, of 10-12 Teton Court, Highett, Victoria. Melbourne, who were well known, over many decades, as manufacturers of industrial power hacksaws and shapers.
Although other Australian makers of 9-inch copies were eventually to offer their lathes in an underdrive form, it appears that, from the very start of its production, the Parkanson was offered in this way, the front and back of the headstock casting being cut away to allow the passage of a flat belt to a countershaft slung beneath the bench. To guard the belt where it passed over the headstock pulley, a cover in cast iron was provided; this is missing from the foirst example of the Parkinson shown below, but in place on the second.
It's possible, but not confirmed, that like South Bend, the makers would have offered both a complete cabinet and the plans to build one constructed in wood. 
As little written information about Parkanson has survived, the writer would be delighted to hear if any reader can add to the story.