Ford 4600 hydraulic leak

I have a large amount of hydraulic fluid coming through a bolt with a hole all the way through it underneath and in front of the body that houses the lifter controls. Clearly this bolt is meant to have a hole in it. The bolt to the left of it also has a hole, but it does not weep oil at all. Whenever you pull the lifter controls for more than a couple seconds fluid comes bubbling thru this bolt. Any suggestions?
 
Are you talking about bolt #29 here, or #86? If this bolt is in location #29, that is not correct. One of the 3 bolts at location #86 is meant to have a hole in it. This is the rear axle breather.
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I don't think it's either of those. I had to pull this whole assembly off to get at it. I've attached a couple photos, I think. Not much of a computer guy. I did a little more testing, it only blows oil when I lower the bucket, not when I raise, dump, or curl it up. 3 point lift has no effect. I appreciate your help.
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It would appear that you have a screwdriver pointing at one of the lift cover attaching bolts. If this really is where your hollow drilled bolt is, then it is NOT in the right location (which is why it leaks), and you'll need to take it out and swap it with one from location #86 in my last picture.

In other words, put the drilled bolt in location #86, preferably the top hole, although I don't think it really matters.
 
I tried switching those bolts. Loader now won't raise, but curlsand dumps. Switched the bolts bback, still won't raise. Makes a sound like the pump is pushing pressure, but nothing happens. Is there a bleed valve I'm missing?
 
Bern, do you have any idea why it might not be lifting now? There's flow coming out of the valve body, but it doesn't seem to be under pressure. I'm about to call a mechanic, and I'm afraid what that'll run since I can't bring it to them with the bucket down.
 

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