Photo of the motor rating plate ?
Canada is 120v 60Hz mains as I understand, so it may be a white Canadian Oneway lathe factory fitted with a 220v motor for export. Oneway were imported into the UK for many years but no longer.
A motor rated at 50 and 60hz has some margin in it as the power is higher at 60hz. From a heat and dissipation point of view only, slightly high voltage will be offset by it being used at the lower frequency.