I scanned this diagram from the Blue Ribbon Service Manual (GSS 1278 - Hydraulics), which is invaluable if you start going into these hydraulics systems. They show the control valves, check valves, power steering, etc for the 240. They're on eBay all the time and well worth the $$.
It shows that high pressure thru line P flows to the hitch piston, which at the same time moves the check valve, closing off any passage to the return low pressure side. Therefore the hitch cylinder can't drop, even when you let off the control valve. When you reverse the lift control valve, high pressure goes to line Q instead, which breaks the check valve's hold, and also pushes the lift cylinder back down. If the O-ring on that check valve piston is gone, the high pressure will flow around the leaky piston no matter what position the control valve is in, and who knows what it will do?
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that�s wha
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