Thanks Blair,
There is a way but it is more a labor of love than it is practical by any means.
*Put a pencil in a small fire to burn away the wood.
*Flatten out 4-sides of the graphite using a few passes using a fine sanding bit on a Dremel tool at low speed. (takes about 60 seconds tops)
*Take a 45-degree lateral cut running the sides of a 5-6 inch (5/8 dowel) easily done using a coping saw and wood vise.
*Use a right-angle wood crafting chisel to even out the cavity & trim the center point of the 45-degree cut to form a squared cavity.
*Fit the graphite into place and attach it all using a light coating of clear Elmer's craft glue.
It takes about 20-min on the first attempt & the rest comes a little faster. (Ergo, the reason why these are not profitable to reproduce for Sutler's Row and why I'm not thrilled about making them in bulk.)
-Dave