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KyMike
 
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That is exactly the problem I'm having with it, the designers did not
provide a way to adjust the upper and lower shaft spacing, though it
might be possible to do this by mounting the lower pulley shaft on some
sort of pivoting arm. This drill press came out of a 100 year old shop
and you would think that even back then they would have known that
belts stretch over time. I'm pretty sure the shafts are in line because
the belt tracks all right without the idler, but it looks like I don't
have the right type belt. Thanks for the info.
Mike