The old landing gear wood is replaced with new Spruce, the wood of choice for aviation. It is strong, resilient, and light weight. At the bottom of the struts are a pair of steel plates holding each side together. The axle runs between the two parallel horizontal braces. At each end of the axle, just inboard of the wheels, are two bronze bushings. The axles run through the bushings, to which the shock absorbers are attached. The bushings allow the axle to float up and down while keeping it in its proper position. Wire and tighteners are then used to give rigidity to the whole assembly.

Here is a closer look at a bungee shock absorber, which is typical of the period. The bungee is wrapped over the bronze bearing and under the wood landing gear, keeping the axle pulled downward. 

The bronze bearing rides up and down in the slot of the black steel plate. It is simple but effective.