I think you'll regret pouring a whole pile of money into something that doesn't get used everyday. I know I have. Here's what I would do on that engine- pull head, send to machine shop and have valve guides checked and valves/seats ground. Don't bother checking it for cracks, as all of those gas start diesels have cracks in the head, if you're not having any coolant leakage/compression in radiator, don't worry about them. I would then pull the pistons and sleeves. Get a good micrometer and measure the rod journals. If not in spec, then you gotta start thinking out-of-frame overhaul. If they're good, I would put in new sleeves, pistons, rings, rod pins and bushings, and rod bearings. I don't think I'd even bother looking at the mains, because you say you've got good oil pressure and I've heard mains for that engine are almost impossible to find and priced out of this world. Not sure what injector/injector pump work costs for those old gas-starts, but thats about the only other thing I'd look into.
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Today's Featured Article - Tractor Profile: Earthmaster - by Staff. This tractor, manufactured by the Earthmaster Farm Equipment company in Burbank, California was made for only two years. The Model C came out in 1948 and was followed by the "CN" (narrow-width model), "CNH (narrow-width high-crop model), "CH" (high-crop), "D" and the "DH" (high-crop) in 1949. The main difference between the models was tire size, tractor width and cultivating height. The "D" series were about 20 inches wider overall than the
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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