The 706 oil pressure red light is a two fold light. It is connected to the engine oil pressure sending unit and the transmission lube oil pressure sending unit. When you depress the clutch you are opening the TA dump valve to release pressure to TA to facilitate shifting gears easier so this turns on the red oil light. So, that being said, it is normal and desired to have red light come on when you press clutch pedal. Dump valve should be adjusted so as you release the clutch the red light goes out just before main clutch engages. The reason it flashs and does not stay on steady is that it is a bulb with a built in flasher which I don't like and always replace the bulb with a non flashing light to get a more accurate indication for adjusting dump valve. Bad thing with this dual set up is if light comes on when you are not depressing clutch you have to determine if it is engine oil pressure problem or transmission. Easily done by disconnecting one or the other sender as they are merely a grounding device for the light.
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Today's Featured Article - A 1937 John Deere Unstuck - by Gary Hickman. Here is my story of how I got the pistons out of a 1937 JD B that the engine had been stuck for about 14 years: About 12 years ago my Dad gave me one of the tractors I ran as I was growing up on our farm in central Nebraska. The engine on this tractor, a 1937 John Deere "B", had been stuck for 2 years before he gave it to me. This last spring (1999) I hauled the tractor to our 2 acre lot in St. Libory Nebraska where it joined my antique machinery collection, at that time a 1929 Caterpillar T
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