Maybe it is a bolt similar to a lug stud with a splined and/or tapered shaft. At the factory, as it would be tightened, the tighter it gets the spline and/or taper would lock into the hole. The design would have to assume they would never need be removed.
EDIT: I found what they are called, Ribbed Neck Carriage Bolt.

Last edited by FriedGreenTmater; 11/13/2011 7:32 PM.

1953 Chevrolet 3600
Fried Green T'mater (Vern)
In the Stovebolt Gallery
Caution: Political Statement
Man who runs in front of car gets tired, man who runs behind car gets exhausted.