Remember you have bought a tractor thats over 60 yrs old and what has been changed since new sounds like a bunch. You can update and have generator,lites and the rest as parts are around. There is a seal where it leaks and that lube is coming from the pan on the bottom of the final drive.The large gear pick up lube and carries it to the top where there is a bearing for the differental shaft. To change you need to remove the differential housing next to the tranny. Then you can remove the brake drum and then the housing then you can remove the shaft out thru the final drive and then get to the seal. Ive been around those since1947 and have bought and sold repaired,painted new engines and whatever and will be glad to answer and help in any way i also have parts. enjoy great little tractors. Located in eastern Iowa near Iowa City
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