Mark - That hollow portion serves as a float to keep the oil pickup up screen off the bottom of the pan. There should be empty inside. If it's got liquid in it it's got a pinhole leak or small crack someplace. You can locate the leak by immersing the float in a bucket of hot water. Air bubbles will appear from the leak as the air inside heats up. If there's just a little oil inside the float you can safely leave it. However if it's like 1/4 full or more, best to get the oil out then reseal the float, or simply replace it with a new float. To drain the float you can drill a small hole in it (ideally at the spot where the leak is) then submerge the float in hot water with the hole facing down to force the oil out, pull it out of the water to let it cool, and repeating until no more oil comes out. Then screw a brass or unplated steel sheetmetal screw in the hole and solder around the screwhead to make it oiltight. I've tried patching holes in oil pickup floats with JB Weld. But I find the stuff softens and deteriorates after a few years exposure to oil in the crankcase and the leak will redevelop.
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