Are there any grub screws holding the pulley on?
I think Meddings had double grubs crews on some of there fittings.
I.E. a grubs-crew with another grub screw on top to lock it.
Meddings are great drills, I used to maintain about 24 spindles when I was younger.
I would saw through the motor shaft and put the Philly into a lathe and drill most of the shaft out.
if you are very careful you may be able to bore out most of the remaining spindle, at least until you break through to the keyway.
Good luck.