360 crank question (weld in crank)

From the looks of it, it may have been internally balanced. a hole is drilled into the counter weight & a section of Mallory metal is inserted. It is the welded in to secure. I can't say for sure about what you have. Since you heard it run, can the person you bought it from advise you on it?
Future reference, drill the "heavy hole" crossways for Mallory metal. No welding needed and safer. ateam:cheers: