This may help:
HAND BRAKE ADJUSTMENT
Hand brake adjustments can be made underneath
the car as follows:
1. Set the hand lever in the fully released position.
2. Remove wire lock from anchor screw head
and adjust screw, 2, Fig. 84, so that the band
and drum have .015" to .020" clearance.
3. Lock the anchor adjusting screw by wiring
the screw to anchor securely.
4. Turn the guide bolt adjusting nut (1) after
loosening lock nut, until the band and drum
have .015" to .020" clearance.
5. Lock the guide bolt in place with the lock nut.
6. Turn the large adjusting bolt nut (3) until
the clearance at the upper half of the band
and drum is .015" to .020".
CAUTION: The groove in the bottom of the
adjusting bolt nut must line up with the
ridge on the lockwasher when proper setting
is obtained. 7. Lubricate all frictional surfaces of the brake
control linkage and anchor bolts with engine
oil.
Free play between the side of the anchor
bracket on the center of the band and the anchor
must not be more than .005", otherwise band
distortion may result upon brake application.
This free play, if excessive, may be reduced by
compressing the saddle in a vise or tapping
gently with a hammer against a block or anvil.