Denny,
Here's a partial shot of a new repro carrier doing it's job under my '50. I have seen originals but really like the way the spare stays firmly fastened to this carrier. After you unscrew the nut from the end of the hook bolt, the carrier tilts downward. You then pull the carrier backwards as it slides along the tracks of the carrier rail (which I assume is still fastened to the bed of your truck?)
Here's a better shot that might help. Yes that cable is to help prevent my spare from being ripped off.
http://www.cmaynard.com/Truck/IMG_0665.JPG Can't remember who I bought it from but think it was Golden State or American Classic.
