Like this (except this is in the tightening position)


Here is the front locking cog shown


Looks sorta like a modern freehub/cassette once it's apart


Except the cup & cone are reversed on the drive side of the hub! The cone is here


The cup is here, on the axle!


And the bearings are 3/16" not 1/4". And there's like a dozen of them!