That is it!!
The small pulley and belt is what is missing, and the pin on the large pulley was also.
That is exactly how I had kind of envisioned it to work. The small pulley would need to be replaced along with the pin.
Thanks very much for the pics.
This is an extractor and uncapper that is for sale very close to me and they said it came out of Wisconsin, there is a mans last name painted on the front of the extractor "NEISES", I think is how it was spelled.
She has a whole garage load of bee junk for sale at a pretty good price but I have no where to store it.