I used coarse grade green emery cloth from Halfords on my old stub axles to get the surface rust off to allow the loose bearings to fit by hand.
If the bearing does not free up after 1 flat, 1 more should do it. But tighten it again to make sure the felt is compressed and the bearings are seated properly. The hub will be hard to turn, even with the wheel fitted, until you free it off a flat or two. Fit new split pins, and pack the bearings with grease until you can fit no more in both bearings, and fill around the castelated nut before putting the grease cap back on.
I have plenty of spare bearings, hubs, uprights, and stub axles if you want to compare, I received loads from Louisiana when I bought a 40ft container of 2 cars in bits, + loads of spare bits.
Alex (in Norfolk weekends, and London weekdays).