Single and multiple recessing tool

A tool mounting comprising a holder element having a recess, an elongated cutting plate mounted in said recess, said holder element having a first and second side wall between which said cutting plate is mounted, a substantially L-shaped frame element mounted on said holder element, said L-shaped frame element having a first leg disposed over said cutting plate and a second leg spaced from said second side wall, said second leg having a sloping surface, a wedge element disposed between said second leg and said second side wall, said wedge element having an inclined surface, said inclined surface of said wedge element engaging said sloping surface to provide a wedging action to thereby laterally clamp and wedge said cutting plate against said first side wall, a first clamping screw engaging said frame element and threaded into said holder element to secure said frame element on said holder element, a second clamping screw threaded into said holder element and operably engaging said wedge element to dispose said wedge element toward the bottom of said recess, said elongated cutting plate having a generally longitudinal axis extending along the longitudinal length thereof and having a cutting edge on at least one longitudinal end thereof, said cutting plate having a transverse groove extending generally transversely of said longitudinal axis, and a rib element on said holder element extending generally transversely of said longitudinal axis, said rib element being engaged by said groove, said cutting plate being slideable transversely of said longitudinal axis as said rib element slides in said groove, whereby said engaged groove and rib element establish the longitudinal position of said cutting plate on said holder element.