Most older spindles are dripping grease out the bottom and are sloppy-loose from wear. That one is very dry. At this point I would try to clean off the rust on the exposed spindle (emery cloth), grease it up well and put it back together. Try to work the spindle back and forth without the tie rod connected and it should free up. Repeat on the other side. Hopefully the clunk was only a broken tie rod end (cheap to replace).
As others have mentioned, for safety put some substantial wooden cribbing under the axle to support the tractor, don't use cinder/cement blocks as they can crumble without warning.
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Today's Featured Article - Good As New - by Bill Goodwin. In the summer of 1995, my father, Russ Goodwin, and I acquired the 1945 Farmall B that my grandfather used as an overseer on a farm in Waynesboro, Georgia. After my grandfather’s death in 1955, J.P. Rollins, son of the landowner, used the tractor. In the winter 1985, while in his possession the engine block cracked and was unrepairable. He had told my father
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