OK guys, think I figured it out. Had to look at parts a couple of times and read repair manual again. The fellow I bought it from had run it a long time with no belt on pump, so no oil going thru control valve. Inside dried out and thrust bearings started to rust. Every time he drove tractor, it would grind on dry thrust bearing. The top bearing is completely gone, nothing left but a big flat washer. The bottom bearing doesn't look much better. Has also ruined needle bearings at top and bottom of shaft. I will get new parts, clean it all up, put back together and see what happens. Thanks.
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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