I'm not sure what your question means, but the spindle doesn't just thread down into the workpiece as the crank is turned. Instead, there is a separate threaded section referred to as the Pressure Screw (a hollow part around the spindle topped with a hex head) that the user can turn at will for down feed pressure, as the crank is being turned. The Pressure Screw imparts the down feed pressure to the spindle thru a thrust bearing (according to a description from Lautard's old webpage).
For drilling deep holes, since the pressure screw will reach the limit of it's descending travel, the user would need to stop drilling, back out the pressure screw, lower the upper section to a lower position on the column, then resume feeding and drilling again.
In the Cole Drill brochure (listed as Cole Drill Instructions on the Rusty Iron site
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) the specifications for the pressure screw are stated as: 2 inch feed and a 10 pitch thread.