guide rods 110 are secured in each case as by set screws as indicated at 112 the ends of the head frame member 86 are connected for guided reciprocable movements on the guide rods 110 during the cutting operations by means of an actuating mechanism which includes an eccentric as generally indicated at 113 on a drive shaft 114 an actuating arm 116 is operatively connected at one end with the eccentric and has its other end pivotally connected by means of a pivot pin 118 having its opposite ends supported in spaced lugs 120 on the head frame member 86 as thus arranged the eccentric will operate in one revolution of the drive shaft 114 to move the cutting blade through a cutting operation of the material operatively associated with the cutter assembly and controlled by the actuation of the cutter blade are unique holding means for holding the material while being severed during the cutting operation for this purpose a presser member 122 is suspended from the head frame member 86 by means of a pair of supporting pins 124 which have their lowermost ends fixedly secured to the presser member and their upper end portions slidably mounted in the head frame member 86 and being formed in each case with a head portion 126 which is adapted to abut the associated upper surface of the head frame member 86 and thus limit downward movement of the presser member with respect to the head frame member a plurality of compression springs 128 extending between the head frame member 86 and the presser member operate to normally urge these members into their limited separated position but permit movement of the presser member towards.