The weight will be not enough , I suggest after long time soaking put the parts together as on this picture except the worm gear .
If its steady on the pole You can try to turn the axel with your hands at the wide ring .
Once its moving , remove the lower turning bolt and loosen the the top nuts so You can move the wide ring a bit aside .
Than try to pull and twist the axel out .
Since there is a nylon bushing in it I would not heaten it with a flame burner .
You can try it after soaking , put up the tension and use the hammer .
If no result , try my first idea and when the axle moves , than use that threaded rod to bring some tension .
Its easier to lift the axle by that rod instead of keep lifting that heavy part and turn it at the same time .
To push out the axle , the rod has to be pulling out long enough , not as short on the picture .
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I would not hammer against that bolt. The threaded part sticking out of the main shaft is a bolt welded into a thin piece covering the end of the tube which is that main shaft. I don't think that assembly can take that hammering. Some pictures from my first one.
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Do you have a trumpet ?Got me this in Amazon maybe could help
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Do you have a trumpet ?