I don't know what the phrase means in the following context:

A procedure that is guaranteed to lead to the desired output in a finite sequence of steps is called an "algorithm" or "effective procedure." Turing envisioned a machine consisting of a read/write head operating on an indefinitely extendable tape ruled off into squares.


The relevant definition of "ruled" here is:

(of paper) marked with parallel straight lines.
Oxford Dictionaries

Because Turing thought this up in 1936, he was describing a machine like this that uses actual paper tape:

What is a Turing Machine?

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