1960 Ford 841 with issues

Hello folks,

I'm new to YT and to tractors. I just bought a 1960 gasoline Ford 841 with Sherman that I'm hoping to get into service, and as I look into it, I'm glad I didn't pay more. This will be a project.

When I shined a flashlight into the spark plug holes I saw what looked like some kind of petrified crud on top of the #2 piston. (Head gasket?) The borescope I ordered hasn't gotten here yet, so I tried out my new compression tester -- supposed to be a good brand, Mityvac.

cylinder 1: 100 psi
2: 90
3: 135
4: 120

I tried it again and got much lower readings

1: 80
2: 55
3: 90
4: 110

I started to go around again

1: 85

But then I thought what's the point? Obviously the engine needs a rebuild, and it seems like a possibly faulty comp tester.

I poured about a tablespoon of oil into each cylinder a couple weeks ago before I did anything else. I have the tractor hooked to a giant bank of deep-cycle solar batteries (sitting at 12.8V), so I cranked it on each cylinder for a while with no drop in starter rpm. Maybe some oil got into the tester gauge?

Another issue has presented itself -- the flywheel is splashing fluid out of the timing inspection hole as it cranks over. Not engine oil, but what seems like hydraulic fluid -- clear, slightly amber, not much smell, feels weird between the fingertips (grippy, but not sticky). Main seal on the transmission?

The proofmeter is broken, so I have no idea of hours. The tractor doesn't look beat up, just well used. I knew it was cheap for a reason.

The guy who sold it didn't say much other than "it's got good brakes."

Here's a picture of it right after I got it home, before I started pulling it all apart.

IMG_7284 small.jpeg
 
Whoa ! I think jumping the gun , that engine will start with fuel ,air and correct timed spark , on that first compression check .
Figure out what stuff is in the flywheel by drain it out and replace with correct fluid to correct volume (sounds like water to me). Not enough facts yet to make those conclusions. Just trying save you a boat load of money.
Need more facts .Take valve cover off and shoot oil on the valve stems watch it to make sure they are not sticking cause it dry or rusted up so they won’t move any move from corrosion.Prove what you need to fix .
A table spoon of oil , you got to get oil to seal top ring 360 degrees .to do any good. At all .
Change the oil in the motor , got antifreeze in it. Got oil in the coolent of the radiator ? Change it.
Do a leak down test after you run it 10 hours with clean oil.
 
Whoa ! I think jumping the gun , that engine will start with fuel ,air and correct timed spark , on that first compression check .
Figure out what stuff is in the flywheel by drain it out and replace with correct fluid to correct volume (sounds like water to me). Not enough facts yet to make those conclusions. Just trying save you a boat load of money.
Need more facts .Take valve cover off and shoot oil on the valve stems watch it to make sure they are not sticking cause it dry or rusted up so they won’t move any move from corrosion.Prove what you need to fix .
A table spoon of oil , you got to get oil to seal top ring 360 degrees .to do any good. At all .
Change the oil in the motor , got antifreeze in it. Got oil in the coolent of the radiator ? Change it.
Do a leak down test after you run it 10 hours with clean oil.
you should see legs of a carter key hanging out of area below flywheel to keep drain hole open. if not feel for small hole and unclog. liquid might be condensation from sitting and clogged drain hole, before you think about separating tractor.
 
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