It does not say why 540 but according to the American Society of Agriculture Engineers, ASAE Standard. The the rear pto was "Originally developed in 1926 by a conference of engineers representing tractor manufacturers; adopted by ASAE April 1927; revised July 1928" along with revisions in 1931, 1941, 1952, 1958, 1961, 1964, 1966, 1967, 1968, 1969,1973 and 1974. It does not state what the revisions were. I believe the early years were the size of the pto shafts.
In 1976 the 540 and 1000 RPM PTO's were combined into ASAE S204.6.
If someone could come up with a copy of the 1927 ASAE Standards it might have the exact information. Mine is the 1998 edition.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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