Hello ACS welcome to YT! It seems that antifreeze or coolant in your oil is likely your problem. Usually on old tractors this is caused by orings for the cylinder sleeves that contain the coolant from leaking between them and the cylinder block. Unfortunately your tractor is what is called a ..parent bore.. engine. This means the pistons ride in cylinder bores cut right into the cast block, so it does not have ..sleeves.. This means that the head gasket has went bad. Or worse case the antifreeze was not strong enough and the engine coolant passage in the block broke due to the coolant freezing and let coolant get in the oil. I am attaching a link to the engine parts diagram for your tractor. If you click previous at the bottom you will see the engine block and other external engine parts.
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Today's Featured Article - Women and Tractors - More Views From the Farmer's Wife - by Teri Burkholder. The top ten reasons why the judges wouldn't let you participate in the stock antique tractor pull: Hey, this is stock! It came with that V8 in it! That "R" on my tires stands for "really old" not radial! Blue gas? We thought it was a pretty color! What wire hooked to my throttle?
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