I would use an end mill to eliminate the head of the large rivet and then drive out the rivet. Then you should be able to fit a large bushing in the 1 side. Do the other side if necessary. Then make or buy a rivet to join the pieces back together. Be sure to polish the surfaces of the rivet that goes through the pulley. And you may have to bush the pulley itself. I once had a similar pulley, also from a Herschede, that had a similar problem. When clocks like this come to visit me, I always check them and clean and lubricate them. Often times this has never been done, and what you have is the result. I may have a pulley if you want to PM me.
Tea, worn saddles are hard to re bush and get them to hang straight and match one another.
I have tried several times, and was not happy with the results because they are so visible in the clock case.
Timesavers has good replacements.
I believe some of those weights are upwards of 35 lbs. I would be getting worried about the loss of metal in the end of that saddle. Are the other two pulleys just as bad? Might consider cutting new side pieces form brass stock. Probably would bush the pulley. If you go with bushing the saddle, I would swap it with the one that's on the lightest weight.
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