To expand on Ken's and VietNamVet's answers, things like saws, etc, that do NOT have onboard electronic controls, if they are 240 volt they only need two hot wires and ground.
In 240 volt circuits, the ground is just for safety and the two hot wires each will measure 120 volts to ground - BUT, since they are 180 degrees out of phase, you will get 240 volts ACROSS the two hot leads.
Your 4-wire from the bobcat has two hot's, a ground AND a neutral - the neutral is only needed for 120 volt circuits, which would use EITHER of the two hot wires and Neutral for 120 volts, PLUS the ground. Ground is STILL only for safety, no current should EVER flow thru ground under normal circumstances.
So, if you make up a multi-plug extension cord and one of the receptacles is matched to your 3-wire 240 volt Nema 6-15 male, you would use both hot wires and GROUND, not neutral.
Same for any welder outlet if it's older, transformer type and only has 3 leads.
For what you want to do, I'd use #8 SO cord for the main cord into your multi-outlet box, connect it to the 6-50 receptacle, then if things are tight you can use #12 from the 6-50 to the 6-15 receptacle.
Newer, inverter type welders typically use a Nema 6-50 THREE wire - this is kind of a grey area to me (due to the electronics), whether to use Neutral or Ground on the non-hot lead - I've always used ground, no problems so far with MIG, TIG or PLASMA machines.
I figure if they wanted you to deviate from that, they'd put a FOUR wire plug on 'em... Steve