There are people who has made the spindles themselves. For example, this gentleman in SHDesigns made one from tool steel, and has a page for it. But he turned it on an Atlas/Craftsman 12x36. I don't have a machine of that size or accuracy. All I have is a semi-working Craftsman 109. And even if it cuts, I am not sure if I can make the finishing smooth enough for the bearing surface.
I have been thinking and search for a while. And one day, I realized something. We all know that the spindle size of the Craftsman 109 is 0.551". That is a strange number. I have seen people doing things in strange numbers, but there has to be a reason. And it turns out that 0.551" is 14mm. The all American Craftsman has a metric heart. How interesting is that.
So all I got to do is to find a grounded 14mm rod, and that could be my new spindle. But what about the collar part? I have spent quite some time thinking about it, and there are a few ways I came up with. I did a few experiment to decide the precision of my cut and measurement, and decided that I can bore the hole precise enough for an interference fit (or shrink fit), with my BBQ stove as heating source (no need for a propane torch).
So here we go. First I got the 14mm rod from eBay. It is grounded 1144 steel. Even though it is not as hard as tool steel, I figured that it will do for me now. The piece I got is 24 inches long, just enough to make three spindles (the original spindle is about 7-1/2" long).


Next I put it on my lathe to finish the backside of the collar. The rest of it can be machined when the spindle is on the lathe.


The old spindle is shown here. As one can see, it has been worn out quite a bit on its bearing surface. I guess that this spindle might have never been replaced since the lathe is first sold in late 1940s. It is an old lathe.


Cutting the threads are largely uneventful. I did have a few mistakes when the gear pops out. But I got it realigned easily. I finished the thread with a die. As always, that is not an easy work, and took significant force at the end. The die set I have is a cheapo set from Harbor Freight. Maybe I will need a better die set someday.
So finally, here is my new spindle on the lathe. All home made cheaply and proudly on the Craftsman 109 lathe I have.