On a closer look there appears to be a Lathe Cup Center aka dead center in the tailstock. As JPG noticed the motor pulley is on backwards. The pulley steps should be opposite between the headstock and the motor to be able to change between the speeds. The only time the headstock and motor pulleys face the same way is when using a Speed Changer. If you haven't already seen it the PDF below is something I have posted many times which is the speed chart for the Model 10's for the 7 possible speeds.
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If you don't have an Owner's Manual there is one available at the link below. It is found here on the Forum site under the Maintenance and Repair section for Shopsmith Large Format Drawings, Illustrations and More by Everett Davis. This will be one of the first three topics. In it you will find a wealth of information on the Shopsmith tools. Some are directly linked there and others are on “My Google Drive” with documents too large to be directly linked. Everett has become the Shopsmith historian by saving and restoring manuals and other documents. You will want the Model 10ER Restored Owner's Guide found on the 2nd row, 2nd from the left.
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https://drive.google.com/drive/folders/0B1p8_ycx_8A0TjdUNXBhMHJJY1E
From your last post
Yes for the Lathe Drive "A" and Live Center "C". You do not need the Tailstock Chuck Arbor unless you want to mount a Drill Chuck on the tailstock for some special lathe work. You will want a Drill Chuck to mount on the headstock's spindle for Drilling.
To reverse the pulley on the motor find the set screw normally in the center groove and loosen it. Slide the pulley off and turn it around. Slide the pulley with the small step towards the motor back on. Align the pulleys and tighten the set screw. You will find it helpful if the pulleys move freely on their shafts when the set screw is loosened to change the alignments for the additional 4 speeds shown in the chart attached above.
Table of Speeds Model 10s.pdf
