Presumably, you have an alignment bar so that you can align between centres.
Having set the bar between centres, the clock needs to be on centre height, and traversing between Headstock and tailstock will tell you how far out, if at all, the tailstock is.
If it is out, you should find a grubscrew low down on the front and back sides of the tailstock, with which the upper part of the tailstock can be adjusted across the bed (and the firmly clamped tailstock foot).
By adjusting these, you should be able to reduce the clock reading, so that it reads the same at both ends of the alignment bar.
BUT, if your concern is that the lathe is cutting a taper, have you checked, for twist in the bed?
No lathe will cut parallel if the bed is twisted.
If the bed is twisted, it will cut a taper, so check first. The 7 Series bed is not particularly strong in torsion, so does need to be checked and levelled correctly.
The method advocated by Myford is outlined in Ian Bradley’s “The Amateur’s Workshop” and “The Myford 7 Series Manual” ( Otherwise known as “Rollie’s Dad’s Method”)
This involves making a “cotton reel”, about 6″ long,using very fine cuts, and measuring the OD at each end. The books will then tell you which side of the feet at the tailstock end, to shim or adjust, to eliminate the twist
The torque applied to the securing bolts / nuts can have quite an effect!
Once any twist has been eliminated, then Tailstock alignment can be checked.
HTH
Howard