I just finished putting my B together after replacing the rear main seal. Not too hard to do once you split the tractor which on these isn't too hard to do with an engine hoist.
You can see I made a stand for the rear half from angle iron and a piece of square tubing. Just drilled three holes to bolt it on.
Here's a picture of the rear main seal after putting a new one in.
There shouldn't be any oil in the bell housing. About the only place it can come from is the rear main seal. The touch control reservoir is more over the torque tube. I would pull the inspection cover on the bottom of the bell housing. If there's a lot of oil in there that's probably your problem. If it's dry I would consider replacing the clutch & pressure plate. Just my thoughts.
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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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