This type of machine is called a radial drill because it can rotate around its centre column. This is a very versatile tool because the drill can be moved along the horizontal arm and the arm itself can be moved up and down as well as rotating around the centre column.
This particular machine was built in Motherwell and is a rare early example of a machine tool with a DC motor. In the 1890s most machine tools were still took their power via belt drive from an overhead shaft which was turned by a steam engine.
The drill was used in the works of Thomas Hudson and Company, Coatdyke to make holes in steel plates for rivets to join them together. The factory made steam boilers and structural girders.