Allen, you are talking about removing the 3" long bullplug that is at the top of your picture right?(your picture looks at the housing from the passenger side rear wheel with the front to the right)
On my 2606 industrial, it doesn"t have all the guts in there but the long bullplug screws into a hole directly under the round flanged casting about where the rust spot is in the casting. I removed it to get the oil level down a few inches and cleaned out the sludge in the bottom at the same time.
Mine also has a open top round metal tube stand pipe in bottom left corner in your picture (which I can"t see so it must be under the oil) which basically keeps fluid a certain level in the housing to keep parts from rusting (I guess). However my metal stand pipe is welded to a plate that bolts up to the housing from the rear end side. There was no easy way to remove that stand pipe without a sawzall or hack saw blade so I left it.
By the way for inquiring minds, the oil inlet for the housing is just above the pressure relief valve in the lower right hand corner. The oil comes in down towards the bottom of the cavity and from the block that is attached on the outside of the housing to the right of the pop off valve.
That pop off valve in the bottom right corner was what I found had a piece of metal (maybe part of the broken spring) that was holding the ball open. I"d run the tractor with the cover off and oil would just come bubbling out of it. Put it in a vise to push the ball in and the metal piece that was about a quarter inch long fell back inside the valve. I"m keeping an eye on it.
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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