Pictured below is a nice little Van Norman bench-top brake drum lathe. Don't let the looks deceive you. It weighs well over 250 pounds and is very well made and stout enough to do the job!
This brake lathe has the 11/16" stepped arbor which is necessary to mount the tapered shaft rear hubs used on 1928-1948 Ford rear brake drums.
The pics below show just a hub mounted for clarity, without the brake drum and swaged studs installed to the hub yet.
The larger inner shaft diameter is 1.000 inch and the outer shaft is a precision 11/16 inch. This design uses a special stepped and tapered mounting adaptor to center the bearing race side of the hub on the shaft.
The outer end of the hub is centered and clamped using a precision 1 inch bushing which fits the 1.000 inch seal washer counter-bore in the hub and the precision 11/16 arbor shaft outside diameter.
Old studs and drums should be carefully removed from hubs by machining away the swaged shoulder of the wheel studs so that the studs will come out of the drum and hub easily. See the links below for a swage cutter supplier.