SOme white smoke on start up and hardish starting is not an entirely uncommon occouronce on those things when they get some hours or have poor injectors. If the smoke clears off in a few minutes I wouldn't get too concerned unless you've got a pile of money you need emptied from your wallet.
Other than that... if it's still losing water beyond the half gallon or so it's going to lose if you fill to the cap... take a very hard look at the weep hole on the water pump and all of the hoses, the rad AND the heater core if it's got a heater. It's got to be going somewhere...
If it's going into the combustion chamber... short of a crack into an intake port... it's going to push combustion gas into the coolant. If it's going into the oil you'll see it eventually... So if you don't see evidence of either of those two I'd say it's leaking externally somewhere and evaporating and you just don't see it yet.
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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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