Yes, I think so. But if you do, you risk the shutter not sweeping the bigger hole in a nice even way.
The relative aperture is the diameter of the iris (strictly as seen slightly magnified, through the front parts of the lens, but to a first approximation I'd ignore that), divided by the focal length. So if the hole in your shutter is what provided the iris in the Kodak camera, what you have now is going to be about f/30: a bit of a stretch. I think you need to open that hole up to three times it's current diameter to get back to f/10; only you can see if there's room for that, and if the shutter blade will do it's job over the larger hole.