HMV German (?) portable troubles

[Edisone]

Any rust bond should have broken when you moved it ¼ inch. I'd try tapping it down again, using a hammer and a wrench socket big enough to loosely fit over the spindle - then use the spindle tapping technique to pull it up. You might need to do that several times.

Are you certain there's nothing else holding it on? In your posted pics, there's something at around 8 o'clock which sorta looks like a pin in the spindle.