If there was a lot of crud in the air cleaner cup and you cleaned that out and put in new oil, I'm betting the cup has holes in it. When the crude sits in there for years and a little moisture gets in, it goes to the bottom and corrodes the cup. Take the cup off and clean the oil out and then hold it up to the light. If you see pinholes, that is where the oil is coming from. I've had this happen on several tractors. Tried to repair with solder, but with the oil saturated in there you can't get the metal clean enough for the solder to stick. I've repaired a couple with JB weld and that has worked, no leaks on any that I fixed that way. The problem could be other things as noted by others below, but no one mentioned the corrosion.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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