[woodknots]

That's actually a shaper - not sure how you would be able to adapt new bits to it but here's a couple of links you might be interested in:

Photo Index - Montgomery Ward | Powr-Kraft - 93fd865a | VintageMachinery.org

Photo Index - Montgomery Ward | Powr-Kraft - 93FD865A | VintageMachinery.org

Photo Index - Montgomery Ward | Powr-Kraft - 93FD865A Shaper | VintageMachinery.org

 

[woodknots]

Out of curiosity, GB, what is the diameter of the arbor? What is the threading on it? Imperial obviously but Right hand, Left hand?
One could hope that it's a standard size, but even then you might be able to get an adapter for a different bore if it's not.

* upon checking, 3/4" seems to be the norm for shaft size.

According to the description in the third link I provided from vintagemachinery.org that shaper came with 1/2" and 5/16" spindles.