Turn shape for top, leaving V" to 3/8" flat at 2 3/8" diameter. This flat area is for the rubber band which will reduce the possibility of the chuck jaws from leaving marks.
Remove the tailstock and drill 3/16" hole I4"deep at the top.Referring to the drawing, shape the shoulder (note slight taper) where the top will fit the box
Separate from the base.
Shape the outside of the base leaving the flat as indicated in the drawing and start removing the inside of the box leaving approximately a 3/8" wall.
Carefully fit the top to the base.
Finish removing waste from inside the box and refine the inside and outside shapes, leaving the flat area and approximately a VT wall.
Separate the base from waste and remove the waste from the chuck.
Carefully place the rubber band on the flat area of the top and in reverse position, secure in the chuck.. If using a faceplate, make a friction chuck to fit the top. Turn and sand the cut from the waste.
Follow the above proceedure to finish the bottem of the base.
Replace the waste in the chuck or using the faceplate unit, turn a depression to fit the bottem ot the base.
Assemble the ring stand with the base fitted in the waste block and bring the tailstock up to the top and tighten.
Refine shape where both flat areas meet into a slight curve and completely sand.. Turn a teardrop or other shape of a contrasting color of wood with a 3/16' x V-i stem Sand, cut off and glue in drilled hole in the top Fine sand by hand if necessary and finish. Flock interior if desired.