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Thanks Gary for the advice. I think that perhaps my hub is stuck in high gear. When I pedal the bike, the rear cog turns one time every time the wheel turns, 1:1. The same point on the rear cog follows the same point on the wheel. No amount of trying to back pedal to kick it down to low gear...

Excellent thread! Very excited to rebuild my Bendix Red Band.... However, I am stuck now....I made the tool out of 1/2" steel pipe, unscrewed the adjusting cone lock nut, tried to free up the next piece (adjusting cone?) but I can't get it out of there. I believe it is threaded on but how hard...