JSeery has offered great and accurate advice. To reiterate in part of what he advised... be careful. Springs hold a lot of pressure. I did not look at the link he'd provided but will caution you against using a home made spreader out of any type of threaded rod. Yep, many guys have used it and it has worked. However, a few guys have used it and gotten hurt. Threaded rod is NOT designed for this type of application.A 40 will require a spring spreader, but you do not need to remove the brake hoses (assuming there is enough slack in the hoses). Need to unbolt the spring at the center of the front cross member and remove the U-bolts. The spring spreader will relive the pressure in the spring so that the shackles can be removed. The shackles may be very difficult to get out depending on their condition. Be careful with the spring, it has a lot of power stored in it when under tension. If you need to take the spring apart there have been several threads on that topic.
http://www.jalopyjournal.com/forum/...ront-shackle-kit-for-1940-ford-pickup.619439/
I'm about to pull the spring on the front of my '40 Tudor to reverse the eyes (or install a new Posie's spring). When spreading the spring, is it just a matter of going until you can feel the shackles are loose, or how do you know when you have it spread far enough?