The original key for that locking hubcap was shaped like a football.
One of my '35's had its spare tire locked in place on the rear mount, and of course the key was missing. I was somehow able to remove the complete tire and mount assembly from the back of the car in one piece. Then I was able to go into the back of the wheel with a couple long flat blade screwdrivers and compress the three spring loaded pins on the locking hubcap enough to remove the cap from the wheel. Once that was off, the locking hubcap can be disassembled, and lock cylinder removed. Some of the cylinders will have a key cutting number, but most of mine did not. A good locksmith can rekey the cylinder by replacing its pins.