The nearly 1" hole can be readily enlarged to exactly 1" on the Bridgeport using the boring bar, if the hardness of the steel is less than that of HHS, say about Rockwell 60. We have a set of hardness testing files on hard at the machine shop in the measuring tool cabinet. If if is hardened steel, then a boring cutter of even harder material, say, carbide will do the job. While the lathe has carbide boring inserts I do not believe that we currently have any such cutter for the Bridgeport.
I heard a rumor that the boring bar adjustable diameter holding tool had its set screw “glued” in and could no longer be adjusted. I haven’t checked up on this. if so, that is a nasty bit of vandalism. As I recall, the boring holder did have a habit of allowing the diameter to “drift” a bit during a cut; it is possible that some one thought that gluing down the set screw would solve that problem, albeit, only for that one cut.