Your JD 2 cylinder has an oil "cock" just under and slightly forward of the belt pulley. I usually keep a crescent wrench in the tool box to allow checking before using. Loosen it up and screw it out a bit. Oil should drip out of the opening on the side of the crankcase. The oil filter is accessed through the bottom of the tractor crankcase. There you will find two plugs..actually one plug and the other the head of a bolt on the bottom of the filter cap. Changing the filter can be a very dangerous job, as damage to the internals of the filter top/attachment block is very common among novice owners. I would get an operators manual and talk with someone who has been around these old 2 cylinders and can provide excellent/needed tips to keep you from having to practically dismantle your tractor to fix the damage.
 
(quoted from post at 03:57:12 10/20/12) Your JD 2 cylinder has an oil "cock" just under and slightly forward of the belt pulley. I usually keep a crescent wrench in the tool box to allow checking before using. Loosen it up and screw it out a bit. Oil should drip out of the opening on the side of the crankcase. The oil filter is accessed through the bottom of the tractor crankcase. There you will find two plugs..actually one plug and the other the head of a bolt on the bottom of the filter cap. Changing the filter can be a very dangerous job, as damage to the internals of the filter top/attachment block is very common among novice owners. I would get an operators manual and talk with someone who has been around these old 2 cylinders and can provide excellent/needed tips to keep you from having to practically dismantle your tractor to fix the damage.

Very good advice. I would also download the free parts book at jdparts.com which shows the detail parts involved, as well as some locations. The cap that covers the oil filter also uses a rubber square cut rubber ring gasket, and many are not changed out periodically, get very hard, and when they won't seal well, owners crank down on the cap bolt too hard, which can break the stud out of the oil filter body casting. This makes for a VERY ardous repair. Get the books.
 
My 1955 JD50 has a dipstick just below the clutch. It just screws out with my fingers. Dad bought this tractor new, so I know it came that way from the factory.
 
I was told one time by another JD owner that when checking my oil on my 60 for the first time, if no oil comes out of the oilcock the first time, make sure the little hole isn't plugged by someone not changing oil as often as they should. Uncscrew the whole works, have wifey or someone standing by to hold their thumb over the hole while you check to see the unit is clear.....blow it out good, run a piece of wire up in there or something. This reassures you that it will allow oil to come past if it's up to par. After that, with normal oil changes, you should be ok to trust it.
 
(quoted from post at 05:38:01 10/20/12) My 1955 JD50 has a dipstick just below the clutch. It just screws out with my fingers. Dad bought this tractor new, so I know it came that way from the factory.

Does it look like the photo? Those were aftermarket units. Not Deere. I thought, but could be wrong, that the dipstick started on the 70 Diesel, main and pony motors, then on the -20 series for gas engined tractors. Parts book for the 50 or 60 does not show a dipstick, just the level cock.

MVC-001F.jpg
 
The oil level check as shown in the 70 photo is after market, way after market at best. This was never supplied by JD. The first production of this type of dip stick was produced by a man name of HIKEN out of Iowa, and later was copied by another company with no identifying marks on there's except oil level indication. The one by HIKEN has his name and address cast right in on the body and also on the dip stick. They are RARE, EXPENSIVE and hard to come by though they are well designed. The one that is on E_BAY at this time,being second one sold by same e-bayer is a COPY and very CRUDELY COPIED at best.
 
Thanks for info. Found oil level plug and canistor for oil filter. Not sure what problems could occur removing canistor to replace filter. Will check with JD dealer about maintence manual for this tractor. Plan to use as a puller.
 
(quoted from post at 01:35:04 10/21/12) Thanks for info. Found oil level plug and canistor for oil filter. Not sure what problems could occur removing canistor to replace filter. Will check with JD dealer about maintence manual for this tractor. Plan to use as a puller.

It's not so much the problems that can occur when you REMOVE the canister cap, but when you install it and over tighten it. That's when you can break the internal casting that mounts the opposite end of the stud. Download the free parts book at jdparts.com and study it a bit.
 
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