56 the adjusting screw 56 serves to adjustably position an elongate knife 57 with respect to the shaft 54 by bearing against the end of the knife 57 the shaft 54 is shown thrusted outwardly by a pair of springs 58 located in holes in the knife spindle 52 the spring 58 are biased against a thrust washer 59 which pushes the shaft 54 outwardly when a solenoid 60 is deactivated the solenoid 60 is mounted to a mounting cap 61 on the exterior of the spindle pulley 43 when the solenoid 60 is actuated the solenoid shaft 62 pushes the adjusting screw 56 shaft 54 and knife 57 together as a unit to a fixed extension position of the knife point 63 relative to the knife slide 38 the knife slide 38 of course is fixedly positioned at a prescribed distance away from the tape chute 22 which serves as a relatively fixed platen for the paper backing tape 21 and the composite tape 20 carried thereon in this manner therefore the knife 57 is extended to a point where it will completely and consistently sever the composite tape 20 yet not cut the paper backing tape 21 the knife 57 is surrounded by a presser foot 64 which is in the preferred embodiment solid teflon low friction material which will not drag on the composite tape 20 the presser foot 64 is a cylindrical block mounted in a bore 65 in the knife spindle 52 concentric to the knife 57 the knife 57 has a substantially cylindrical cross.