Kurt is correct, the babbitt didn't bond. When this happens the babbitt is like an insert bearing and will not be able to withstand the pounding. It also looks like the babbitt has some lead making it too hard and brittle. I see this problem all the time. I make sure all my caps (front and center) are at 350 degrees before pouring so the babbitt bonds correctly. This is the only way these 2 caps have to hold the babbitt in place. Chevy used babbitt shells in this period but have 1/2" holes in the cap to stake the shell in place and they work very well. Model A's don't have any holes to stake the shell so, the bearing gets slammed to pieces.
Tom is also correct, now is the time to install a new counterweighted crank, either the Burlington crank or one with weld on weights. I use and carry both.