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More likely something in the steering. Tie Rod or more likely tie rod ends. Of course with anything this old, you're best off replacing the king pins (these trucks don't have ball joints) too.
Lastly, make sure the lug nuts are tight. That'll cause a loose wheel!! LOL
so I was trying to adjust the steering box and I untightened the adjust nut but I can not seem to turn the adjust screw , it is protuding about 1/8in from the nut but it wont turn, can I spin it all the way out with the nut
Put it down on the ground and slide under so you can watch while someone slowly turns the steering wheel back and forth. Se what moves before the wheels start moving. Whatever is moving i.e. drag link, tie rod ends, etc is what is worn. Be careful adjusting the lash adjuster on the gear box, if you overdo it, the gears will grind up in a hurry destroying the box. Lock the pitman arm by putting a clamp n the frame on each side so it can't move, then check the freeplay at the rim of the steering wheel. if it's much over 1" it's likely time to rebuild or replace the box. The original box was of a simple design but it required regular maintenance and lube replacement which they seldom got. The lube dries out and gets packed into the corners where is does nothing and the gears wear out.
Here's an article on the steering options: Toyota Steering Box Swap For 1948-1960 Trucks .: Articles
the toyota conversion seems to be just as expensive as buying a rebuilt box or am I missing something?
Used Toyota boxes can be easily found for 50.00-100.00. You are getting power steering and a modern recirculating ball design steering box without slop or maintenance issues. The Toy box fits and works like it was made for our trucks. If you buy a rebuilt OEM box you still have a 1930's design and armstrong steering.
The rubber on the drag link is just the dust covers. Mid Fifty sells them. Clean off the excess grease and see if you have slop in the ends when you move the steering wheel. MF also sells the drag link internals and new ball ends if they are worn. If you take the drag link apart. be sure you put it back together in the correct order, it's different on each end.
my drag arm has rotten rubber under gobs of grease
If it is tight, or can be adjusted to tight purge it and leave it alone. The grease is acting as a dirt shield. Never hurts to inspect or rebuild the drag link ends as kits are cheap. The springs therein have been known to break and the ***** will wear if not maintained. A very simple trouble free design.