Nice looking ‘ol 400! Judging from the shape of the tin, condition of the WFE, etc the tractor was well cared for. I've never messed with Behlen PS (all our tractors have Charlyn...). However the leakage on yours looks like worn input/output shaft seals as the others suggest. A few other comments/suggestions to the captions in your photo: With a one wire alternator simply tape off the unused auxiliary wires – the new alternator doesn’t need ‘em. And don’t worry about it burying the ammeter needle after startup – it’s just the alternator throwing a good charge into the battery. However as the battery reaches full charge the ammeter reading should taper off to just a few amps - like halfway to the first gage mark to the right of “0”. If you know a good welder you might have him try brazing a ¼-20 nut to the busted out spot on adjustable fan pulley flange right on the tractor. Then to lock the pulley adjustment stick a ¼-20 allen head set screw in the brazed-in nut and run the set screw down so it’s just snug (not tight!) in one of the hub grooves. Finally secure the set screw with a ¼-20 locknut. That ignition switch looks original. Replacement keys are readily available and cheap. Note the same key fits any IHC and Oliver tractor (and probably many other makes) of that era. The markings on the upper half of the tach serve as a “speedometer”. Simply look at the band for the gear you are currently in – speed is then indicated on that band by upper tach hand. The “hernia” around the valve stem on the rear tire can probably be repaired by brazing/welding. For a quick fix however you might try cleaning the area up thoroughly. Then if you find there’s enough good metal remaining around the valve stem opening, using JB Weld or similar to bond a flat washer to the rim with the valve stem sticking the hole in the washer. Not elegant, but it works - and you don’t need to demount the tire to do it! --- Nice photos BTW!!
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