lol, before you take a hammer to it, carefully measure it and draw it....if hammering does scrap it, you'll have what you need to get some quotes. I don't know what is not shown on the rest of it, presumably just a cross drilled hole for a cam? imo its well less than an hour's work so might not be too bad to have made.
The problem with getting it red hot, is the metal has the consistency of Plasticine. you can easily bend a 1" bar by hand for example. So, a hammer strike might bend it downward, but it will also spread out under the hammer, as if you were hitting Plasticine. If you can, with a small oxy acetylene torch, get a red zone as strip along the bend line, that would be ideal and bending it back easy, otherwise you may better cold forming....but be really careful not to bend the vertical column.
Also, on heating it, if its cross drilled for a cam, it may be that that part of it at least would have been heat treated (although the mushroomed bottom suggests its something less than tool steel strong). Get the whole thing red hot and you undo the heat treating.
I would guess it was made to accept collets so would have a drawbar...no knowledge of that lathe, just probable speculation based on a tailstock quill that appears to have a self releasing tape (as in collet style) vs a Morse taper.