Generally hydraulic oil is what is called a bright stock mineral oil.
It is the precursor to motor oils which have additives for detergency (which keeps solids in suspension), viscosity index improvers (this is where the 'W' often comes from as in 10W-40), wear additives (such as moly and zinc to provide wear resistance on areas such as lifters on camshafts) and anti corrosion additives. It generally consists of medium to long chain normal paraffins.
Bright stock mineral oil prior to today's modern motor oils was the beginning point for the formulation of motor oils.
Today's 'synthetic' motor oils are still medium to long chain normal paraffins, but rather than being made by distillation from paraffin base crude oils they are synthesized to gain greater control on the chain length and degree of isomerization and branching.
That being said, an SAE 20 nondetergent with a rating no higher than SA or SB could be used as a replacement for a bright stock mineral hydraulic oil.
This could be used in a very antique tractor which is used for show.
But as another poster said, "You are going to save $200 on oil and spend $5,000 on a transmission repair?"
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
... [Read Article]
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