water pump leak 1720

My widowed neighbor has a nice little 1720 Ford with the 3 cyl Shibaura diesel engine. About 1000hrs. Notice water dripping from
the water pump.
Hard to see up there, at first I thought it was the hose connection, but I finally got my phone up there and took a picture. It
looks like water is coming out of the hole in the water pump below the pulley. It does NOT appear to be leaking from the pulley
but through a little hole (about 1/4") below the pulley.
Question what is the hole for? Time for a new water pump?
 
The hole is there to let coolant drain away if it gets past the water pump shaft seal. It is time for a new pump.
 
Sometimes leaking water pump seals stop just as quickly as they start, especially if they've been in storage for a while like this one sounds like it has. In fact, many diesel engine manufacturers say to ignore trace amounts of water coming out of the weep hole. I'm not suggesting that you should ignore it, but it if were mine, as expensive as those Shibaura parts are, I would continue to run it and see if the leak slows down and/or stops. This of course assumes that the bearing is tight - this can be checked by grabbing the fan and seeing if you have any wiggle.
 

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