I can see what appears to be a broken quill (the part that goes up and down). You can see the drive teeth that guide the quill through the pulley. And the break seems to be above this. Did you find any loose pieces? If it's not the quill then I have no idea.Thanks Roxanne,
Thats what I have done as a stop gap measure, Adjust the stop nuts down. I am researching the DP220l 14" Drill Press Parts and Service for possible solutions, in lieu of buying a new high spead or low speed assembly.