Two things to look at ,
Axle eye end slogged out , it will need machining and a bushing fitted .
or ,
Outer wheel bearing , inner race not a snug fit on the end of the spindle , need to change the spindle .
I just found this defect on my '40 , wondered why the bearing moved when it was correctly adjusted ! Had to fossic round for another spindle that was not worn at the small end .
