The Collaborative International Dictionary of English v.0.48:

Traverse drill \Trav"erse drill\ (Mach.)
   A machine tool for drilling slots, in which the work or tool
   has a lateral motion back and forth; also, a drilling machine
   in which the spindle holder can be adjusted laterally.
   [Webster 1913 Suppl.]

The Collaborative International Dictionary of English v.0.48:

Traverse \Trav"erse\, a. [OF. travers, L. transversus, p. p. of
   transvertere to turn or direct across. See Transverse, and
   cf. Travers.]
   Lying across; being in a direction across something else; as,
   paths cut with traverse trenches.
   [1913 Webster]

         Oak . . . being strong in all positions, may be better
         trusted in cross and traverse work.      --Sir H.
                                                  Wotton.
   [1913 Webster]

         The ridges of the fallow field traverse. --Hayward.
   [1913 Webster]

   Traverse drill (Mach.), a machine tool for drilling slots,
      in which the work or tool has a lateral motion back and
      forth; also, a drilling machine in which the spindle
      holder can be adjusted laterally.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Drill \Drill\, n.
   1. An instrument with an edged or pointed end used for making
      holes in hard substances; strictly, a tool that cuts with
      its end, by revolving, as in drilling metals, or by a
      succession of blows, as in drilling stone; also, a drill
      press.
      [1913 Webster]

   2. (Mil.) The act or exercise of training soldiers in the
      military art, as in the manual of arms, in the execution
      of evolutions, and the like; hence, diligent and strict
      instruction and exercise in the rudiments and methods of
      any business; a kind or method of military exercises; as,
      infantry drill; battalion drill; artillery drill.
      [1913 Webster]

   3. Any exercise, physical or mental, enforced with regularity
      and by constant repetition; as, a severe drill in Latin
      grammar.
      [1913 Webster]

   4. (Zool.) A marine gastropod, of several species, which
      kills oysters and other bivalves by drilling holes through
      the shell. The most destructive kind is Urosalpinx
      cinerea.
      [1913 Webster]

   Bow drill, Breast drill. See under Bow, Breast.

   Cotter drill, or Traverse drill, a machine tool for
      drilling slots.

   Diamond drill. See under Diamond.

   Drill jig. See under Jig.

   Drill pin, the pin in a lock which enters the hollow stem
      of the key.

   Drill sergeant (Mil.), a noncommissioned officer whose
      office it is to instruct soldiers as to their duties, and
      to train them to military exercises and evolutions.

   Vertical drill, a drill press.
      [1913 Webster]