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Looks like you are on the way. My slip ring didn't have the screw, or even a hole where it might have been. Yours must be a later model than mine. Mine is a '66. If your bearings feel good, don't open them up. Even though it doesn't move on the shaft, it is called a "slip ring" in the...

Okay, I think I understand what you have. You may be in for a replacement of the column, like I was. The wire (25) goes down the column and is supposed to be fastened to the center shaft. You are going to have to take the whole column out to fix this. You apparently have the wheel off, or...

I went through exactly the same thing and wound up getting a pull-out column because of some bad bearings in my old one. There are two ball bearings, one at each end, between the housing and the solid center shaft. SEE MY INSTRUCTIONS IN...