When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
First and Foremost, Welcome to FTE!!! Difficult for me to determine from pic's, if I were to hazard a quest, appears to me PO either installed the incorrect coupler (rag joint) and/or installed incorrectly?? Suggest try replacing the steering coupler (rag joint, should not run for than $20-30 and regardless will need to be replaced??
Sorry, pic's pathetic, but decided to post pic's of the coupler from my 65, which has the P/S upgrade, but would be same as the manual with respect to rag joint between steering box and steering shaft. Suggest wait for other member's to chime in for additional comments. Again, welcome and looking forward to your input!.
Looks like it's time for a new rag joint with the left side bolt short like the right side. Not sure if the bolt has caused the oil leak but the steering gear may have to be re-sealed.
If can afford, since replacing the rag joint will likely require loosening the steering column, noticed in pic the lower steering column bearing seal appears to be unseated so you may want to take the opportunity to purchase the components to repair the column and include 2-3 items required to restore the horn, probly cost total of approx. 30-$40?? If parts are ordered in advance likely take a weekend?? Anyhow, food for thought.
Take a good look at the cab mounts also. If they are starting to fail and letting the cab settle down it will put the steering column rag joint in a bind.