Hello Bob
I had similar problems with a used Chester 920 that I bought some years ago. The drive belt on the machine was a bit sad and tattered, so I bought a replacement. That fitted fine on all but one speed arrangement, where like yours it far too tight, so I bought another but one size larger for use on that one speed. One thing I did find that was the axis of the belt tensioner roller was not aligned with the pulley shafts and main spindle, which caused the belt to run bowed to one side (see picture). This allowed the belt to:
A – ride up the side of the flange on the end of the roller, flipping the belt so the it ran inverted in the pulley vee
B – rub on the edge of the pulley as it exited the vee and also rub on the edge of the larger pulley
The misalignment was the result of slop in the main pivot on the tensioner crank, tensioner roller spindle pressed into the crank at an angle before being welded in place during manufacture and the tensioner crank being anything but straight and untwisted. All relatively easy to correct though.
If you are going to try the larger belts and use the tensioner, it is worth checking alignment. Hopefully yours will be okay.
