There should be a separate body near the end of the spool that holds the detent ball and spring. Some have a set screw that applies pressure to the spring and ball.
See if you can locate a Allen key set screw that you can tighten. If so first you may want to back it out and push a little grease into the housing, as others have mentioned.
I managed to repair mine this way, if it is really old you may worn an oblong hole in the body, such that the ball slides along the spool rather than into or out of the spool.
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Today's Featured Article - What Oil Should I Use? - by Francis Robinson. I keep seein this question pop up over and over again in discussion groups all over the web. As with many things there are often several right answers and a few wrong ones. Some purist I'm sure will disagree to no end with what I will tell you but most of us out here in the real world don't really care do we ? Some of them only bring their noses down out of the air long enough to look down them anyway. If you are like me you are only doing this old tractor stuff because you enjoy it. You
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