Heres a good tip, pull the column up off the shaft enough to clear the bushing, then using the shaft end as a large punch, ram the column tube down against the end of the shaft forcing the bushing up and out.
If the bearing lives through this, simply solder a new wire to the brass horn ring and reinstall.
If your '40 is like my '37, the column tube will not come clear off with out lowering the steering box. Mine is about 2" to long and hits the headliner before clearing the shaft.
I have used hard wood, plastic (bakelite) and needle bearings for upper bushings. All worked pretty good. I have a teflon bushing now thats holding up really nice.
Joe
