Anytime there is smoke, there is heat, and the heat is caused by a less than ideal electrical connection. I'm not that familiar with the light switch on a 300, but you need to dig into it and have a look. The fix may be as simple as shining up the connections (clean, bright, and tight). The worst scenario is that you need to replace the entire switch. I think aftermarket replacements are available.
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Today's Featured Article - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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