At some point this must have been covered here, but I have no idea how i would search it.
On front and back axles, at one end is a hole through the diameter near the end that is evidently used to insert a rod in order to 'wrench' the nut off of the other side of the axle. That's pretty straightforward.
Between that hole and the axle shaft face near it is a tiny hole drilled through the axis with a slight countersink on the shaft face.
One day, for some odd reason, it occurred to me that I might hang the wheels/tires at eye level above the workbench by a wire through one of these holes and then slowly rotate the wheel and, voila, use weights to static balance. I tried it and it worked perfectly.
Is this what the hole is for?