1. A wire wrapping tool for wrapping connection leads onto terminal studs comprising: a. a tubular sleeve member; and b. a cylindrical bit received in said sleeve member and adapted to move longitudinally therein; c. said bit having a bore in one end for receiving a terminal, said bore being recessed and located along the longitudinal axis of said bit; and d. a flared concentric surface means between the end of said bit and the beginning of said bore; and e. an external groove means in said bit, one end of which merges with said flared surface means, the merger of said groove means and surface means being relieved so as to form a wire guiding notch means, and said groove defining a wire supporting wall; and f. a planar surface formed in said bit so as to form a notched area having two opposed end walls; and g. said groove means merging with said planar surface, the merger of said wire supporting wall of said groove and one of said opposed end walls being relieved to form a rounded corner means adapted to allow a wire to be pivoted into said position as said bit retracts into said sleeve and said groove means having its bottom portion beneath the plane of said notched area; and h. said sleeve having an elongated opening therein which cooperates with said planar surface to allow a wire to be pivoted upon retraction of said bit within said sleeve; and i. flange means on said sleeve adapted to overlie said groove means when said bit is retracted and to cooperate with said wire supporting wall of said groove to define a wire supporting passage; whereby when a wire is laid across the planar surface, retraction of said bit within said sleeve causes the wire to pivot on said corner means and is grasped in said groove between said flange means and said wire supporting wall.

9. A wire wrapping tool for wrapping wires onto terminal studs comprising: a. a tubular sleeve member; b. a cylindrical bit received in said sleeve member and adapted to move longitudinally therein; c. means to prevent relative rotation between said bit and sleeve; d. a stud receiving passage in said bit, said passage being located along the longitudinal axis of said bit; e. a concentric counterbore in said bit of larger diameter than said passage and located between the end of said bit and said passage, a portion of said counterbore being relieved and providing a camming surface; f. an external wire receiving groove means in said bit, one end of said groove means merging with said relieved portion of said counterbore, the merger of said groove means and relieved counterbore portion being further relieved to provide a wire guiding notch means and said groove defining a wire supporting wall; g. a planar surface formed in said bit so as to form a notched area having two opposed end walls; h. the other end of said groove means merging with said planar surface, the merger of said wire supporting wall of said groove and one of said end walls being relieved to form a rounded corner means adapted to allow a wire to be pivoted into position as said bit retracts into said sleeve and said groove means having its bottom portion beneath the plane of said notched area; i. said sleeve having an elongated opening therein which cooperates with said planar surface to allow a wire to be pivoted upon retraction of said bit within said sleeve; j. flange means on said sleeve cooperating with said wire supporting wall to define a wire supporting passage; whereby when a wire is laid across said planar surface, retraction of said bit within said sleeve causes the wire to pivot on said corner means and it is grasped in said groove means between said flange means and said wire supporting wall and said camming surface forces the end of said wire to lie flat on said stud at the conclusion of said wrapping.