Many years ago when I worked for a large American controls firm many cam packs for timing various switches had cam plates sandwiched around a central brass or die cast hub. These were staked in place to hold everything together. Many cam plates had a central hole with 4 semicircles cut around it just like the Meccano pulley shown.
The stake tool for these ops was not a plain punch / brute force. Sometimes one stake op was done, with a punch having chisel-like angled features and sometimes an angled ring which displaced metal sideways into the 4 semicircles. Sometimes after this op a second stake would be done with a punch having a rounded groove, to displace the flange out and down to grab the cam plates better. Another type of stake tool had 4 round punches to hit the outer rim of a bushing in a plate to push the metal down and outward to hold the plate over the bush. In this type of stake tool the centreline of the punches was on the joint circle of the two parts. The punches' ends were angled down and out to direct the metal flow.
We also staked bushings into 3 mm plates for water valves, before soft soldering to seal them. These stakes were radial chisel marks around the bush OD, displacing metal sideways into the plate.
Almost all staking involved angled faces in the punches and dies to move the metal sideways and down with a vertical punching action, or tools to do a rolled flange action. We had a fleet of literally hundreds of Denison electric pump / hydraulic cylinder one and two ton presses to do these ops. These were clean, accurate, quiet presses that people could use for a full shift without fatigue.
Staking was once a very common assembly method for metal parts but has fallen by the wayside in the last number of years due to alternate materials like injection moulded plastics, and alternate processes such as snap fits, glues and heat staking being used for the type of assys that used to be staked metal work.
I'd bet that Meccano did most of their hubs exactly the way my old firm did, with staking tools in some sort of press, displacing metal with angled features / rings on the punches. JD