The smaller the motor pulley the lower th will be the speed of the lathe mandrel.
ie 1425 rpm motor with 2" pulley driving a 8" pulley, which will run the countershaft at 1425 / 4 = 356.25 rpm, assuming no slip.
Using basic engineering maths:
To achieve Hopper's maximum speed of 800 rpm at the mandrel you would need a speed increase of 2.24 : 1.
This could be obtained by having a 4" pulley, on the countershaft, driving a 1.785 " pulley on the mandrel.
Minimum mandrel speed would be by having a 1.785" pulley on the countershaft driving a 4" pulley on the mandrel (ASSUMING THAT THERE ENOUGH ROOM ON THE HEADSTOCK FOR IT ).
If there isn't, you need to do some more simple maths to calculate the size of the Driving and Driven pulleys to achieve this ratio. Middle pulley size is merely (Driver + Driven) / 2 to get two pulley diameters that are the same.
Middle speed would be obtained by having the middle sheave of each pulley (Countershaft and mandrel ) 2.89" diameter
Since you are using flat belt drive, these diameters should be fairly easy to make.
This should provide mandrel speeds of 800, 356 and 159 rpm, using the same belt tension for each setting.
Excessive belt tension may avoid slip at the expense of the life of the bearings in the countershaft and the Headstock.
These speeds can be reduced by engaging back gear, but don't forget to release the grubscrew in the pulley on the Mandrel., to allow the pulley to run free on the mandrel while back gear is engaged. But don't forget that a pulley running on the shaft but not at the speed of the shaft, will need lubrication. So the grubscrew hole in the shaft needs to be the depth of the same diameter as the grubscrew.
For a ML1 I would think in terms of 3/16" or 1/4" BSF. Having been produced in the mid to late 30s, up until the maid / late 40s, threads will be Whit form, either BSW or BSF. The Myford ML7 made it's debut in about 1946 / 1947.
Back gear may decrease the above speeds by a factor of 4 or 5, possibly 6, giving speeds low enough, perhaps to use a tap or a die under power.
Certainly, when running at 800 rpm, you need to lubricate the mandrel bearings more frequently than when running at lower speeds. At best thee bearings will be white metal, or more likely direct in the cast iron of the Headstock, and not intended for high speeds for long periods.
Howard.