I'll bet Jon has it. Easier said than done, but you have to separate the hyd. system from the mechanical system. Here that means I would lift the bed with a loader, and/or bypass the truck system and go right to the hoist cylinder from a tractor, etc.
A couple years ago my then 10 year old "no lubrication required" "Olympic" hoist in my dump truck started dropping slowly. It was the main pivot of the scissors/stabilizer. It was flexing the cylinders enough to cause them to leak! Turns out it was never assembled correctly, and the plastic "seal" washers weren't keeping the crud out. They can put all the plastic parts in there they want, but as long as they're next to steel, with no lubrication, the salt can get in and cause things to corrode and swell.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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