More than likely this is a condition that happened over a period years. Do you know when the last time the rear end / transmission lube was changed? As previously stated, the shifter boot is a likely culprit as well as condensation if the tractor is from / in a cold area & keep in a cold storage shed. Whenever yu see condensation on the outside of the housing there will be the same amount on the inside wall of the housing. Deck bolts, even thoughtight, can be a source for moisturte entrance. My quess is the problem is more from condensaation than external leaks, especially iof it's been several years since the gear lube was changed.
Whenever I buy an old tractor such as yoyrs I drain all the fluids, flush & refill. For the rearend / tranny I fill with diesel fuel, run the tractor down the road for about a 1/4 mile or so and back, drain over night & refill with the recomended gear lube. I also drain the crankcase, fill with diesel, allow to idle for 5-10 minutes, frain over night & fill with oil. You'll be amassed at the crap that the diesel fuel will flush out.
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Today's Featured Article - The Fordson F Ignition System - by Anthony West. A fellow restorer contacted me earlier this year asking for some help and advice on a model F that he was restoring. He had over a period of months spent a fair amount of his hard earned cash on replacement parts for the old "trembler" ignition. Sadly though all his efforts seemed to be a waste of time and money as he still couldn''t get the temperamental old thing to run correctly!! If i said that this was a little frustrating for him that would be "conservative" in fact the problem had reduce
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