The classic English bevelled waist on a handmade shoe utilizes a ‘blind welt’ in the waist section. The welt goes from (heel) ‘breast to breast’, but the welt in the waist section is further off the edge, cut narrower and, I believe, also thinned out in the waist section (not 100% sure about that).
Welt prepared for a bevelled waist.
When it comes to the stitching (or more correct ‘sewing), it is wider in the waist section (about 4/inch) than the actual sole (about 10/inch). It is also pulled very tight and boned down to sink into the leather.
I have no actual photograph that shows the stitches within the waist, but they are present. Then the stitch pattern changes for the actual sole from ‘ball to ball’, until the shoemaker has come to the other side, where he utilizes again the sewing.
Once the shoe gets finished, the waist section is cut very narrow, pressed-in (hiding the welt) and shaped. In a skilfully made bevelled waist, you will neither see any stitches, nor a gap. The sole closes very tightly to the shoe, but nevertheless the connection does not rely on glue or on wooden pegs.