First thing you do is put a drop of ink into the little well, after screwing the appropriate wire in of course, then you sit that aside to dribble while you select the font strip you desire.
Then you put the T square in place and locate the font just above it. If you have long lines of text it don't hurt to tape the $#%&^* Tsquare in position so it don't slide down the board.
Then you grab the pen and if it ain't dribbled all the ink out, you index the font and 2 pins on the pen, slide the font across the Tsquare to where you want the first letter, lower the pen to the paper and write the letter. After that it's just a matter of reindexing letter by letter and inking letter by letter. A good man can probably do 8 or 10 letters a minute.
Now you know why everybody invested in the Croix machines that spit strips of lettering out you just paste on. I can make you a hell of a deal on one of them, but shipping will kill you.
BTW that little wood box of lettering tools cost over $250- in the 60s.