On the newer Lewmar 40s (beginning in 1982, I believe), the spindle pulls up. But on this model, the drum washer extends out over about half the diameter of the spindle. If I tried to take the spindle out of the top, it would hit the edge of the drum washer.

Pressing the spindle out may be an option. However, I'm concerned that if the top of the spindle is mushroomed, pressing it out will distort the holes or even break the center stem.