Originally Posted by
Trakhak
If I remember correctly from my bike shop days, that's not a lock ring. It's an adjustable cone. You turn it in by hand until the play in the bearings is mostly gone, and then tighten the lock nut. If it's then a bit too tight or too loose, repeat. You definitely don't want to be smacking the adjustable cone with a hammer and chisel, though.
You don't need to hit it hard, just a tap with a screwdriver will do.
Originally Posted by
Trakhak
Tightening the lock nut while holding the adjustable nut in place is a bit awkward, though. You might want to get a pin spanner to make the adjustment easier. Park makes them, among other manufacturers.
You don't have to hold the cone, there's a tab washer to stop it turning. Ashtabula cranks are only used on old or cheap bikes, you're not going to get perfect adjustment anyway, but in its favour it's a fairly large bearing so not fragile.