There is not a shaft seal on these. Centrifugal force keeps the oil from coming out. You may be filling it too full, or the level tube is broken, or the gasket under the fill screw is shot. To fill these, you fill with the fill opening on the side. Then turn it down and let the excess drain out. Then put in the screw to close the fill hole. There is a little stand pipe in there that lets the oil seek it's proper level. The sealed ball bearing replacements won't last 60 years like the originals did with very little maintenance in most cases I suspect. However, I do admit the new ones will be cleaner if you are particular about that, go with the sealed bearing.
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Today's Featured Article - Product Review: Electronic Ignition - by Staff. Oil, for example has come a long way in the last 50 years and I don't use anything but the latest API grade available. I've heard the arguments for non-detergent oils but would never trade it for today's formulations. Paint is another, the modern acrylic enamels are great for resistance to grease and fuel stains, retaining their shine and they last forever; unlike enamels and lacquers . Still another is the alternator. No doubt using the original generator keeps the tractor pure, but for thos
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