A wharve assembly for a jute spinning machine. The wharve assembly (1) comprises a spindle (2) the upper part (2a) of which is rotatably held in a pair of vertically spaced bearings (3a, 3b) located in a bearing housing (4) adapted to be fitted on a flyer rail. The upper end of the spindle protrudes out of the bearing housing and adapted to be fitted with a cap. The lower part (2c) of the spindle protrudes down from the bearing housing and is formed with a pair of spaced flanges (6, 7) adapted to receive there between a belt connected to the wharve drive of the machine. The upper flange abuts against the inner race of the lower bearing mounted on the spindle. The lower end of the spindle is adapted to mount a flyer. The bearings are one time lubricated and sealed bearings