Is this trashed or useable? pic inside

[73GMC10]

Long story short, bought a 73 GMC 4x4 3/4 ton with a 14 bolt ff,owner has been driving it with loose lug nuts and this is the result, I have spent a few days trying to locate one but unsuccessful. just wondering if this hub that connects with the brake drum is trashed, my concern is tightening the 60 deg. conical nut if it will hold or will that extra little bit of gap space ruin a rim?any suggestions are greatly appreciated as its my final puzzle piece so I can drive it to my place to work on it.* the reason it has all that circular rub rash is because he used washers on it hoping it would have snugged up, the rim was completely ratched*