PURPOSE: To enable feeding of both a sprocket paper and a slip concerning the paper feeding apparatus provided with the sprocket paper feeding and pullout mechanism by changing a feeding amount of the pullout mechanism and the paper pushing pressure.

CONSTITUTION: A press roll 22 cooperating with a driving roll 5 forms pullout mechanism of a sprocket paper P1 and pushing pressure is changed by the rotation of a lever 44. In feeding a slip a driven pin 47 is fitted in a cam 45d by rotation of the lever 44, a clearance is formed between both rolls 5 and 22. A slip is inserted from here and at the same time it is stopped by the positioning piece 33a located directly under the lettering part. Next, a feeding a speed of a slip is made equal to the paper feeding speed by a pin-tractor 36 in time of using sprocket paper by changing r.p.m. of a motor 11. Further, by rotating the lever 44 the pin 47 is fitted to a cam 45b, the press roll 22 holds most tightly a slip 2P and feeds it.