The Veco 35 was built with a full floating bottom rod bushing. The piston/rod is installed in the block with the bottom end over the crankpin and the sleeve slid into place. The bushing was then inserted and the rear cover was bolted down, holding it in place. IMO it was an excellent construction method, as it allowed the pin bosses in the piston to be much closer together at the top of the rod, lessening the bending load on the wrist pin. I expect this is what you have.