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Bob Tascione

    Welcome to the forum Jim and congrats on your lathe purchase!
    Looking at the back of your headstock you should see a round threaded nut with a split cut through it. Remove (it’s threaded) this nut and then loosen the set screw in the pulley. You may find this screw far down inside the hole in the pulley. You can then tap the back of the spindle with a plastic, wood etc. hammer. Everything will come out the front of the headstock. After doing what ever you need to do and cleaning just reverse the process to re-assemble. The spindle should be keyed in some fashion. I’m not sure what your Peerless uses but there should be some type of key or pin that needs to be inserted into a key-way slot in the spindle. Then replace the nut with just enough tension to eliminate any end shake. Oil and you should be ready to roll!
    Good luck Jim and enjoy,