Sounds like the pump needs a complete reseal. There are some very critical head assembly parts to be careful with as most are no longer available. Had a leaker I could have repaired last month, but owner had been inside and broken the spill plunger control valve, he had to find another pump as parts were not anywhere. He just found another pump. Diesel slobber is normal for some cold running diesels at light or no load. DO NOT adjust the lower lever forward stop screw as it controls rated HP at full load only. Make sure water temp is up too with a good thermostat.
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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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