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I just went thru rebuilding the fan assembly on my '51 F1. I was advised to use a 5 weight oil to fill the "hub reservoir", but never found any oil that thin. Also, any oil pumped into that chamber would run right out the shaft. The boys at C&G Ford, where I procure almost all my ford parts, tell me the shafts are made of unobtainium, did not have a seal listed anywhere, nor did they have any experience rebuilding one, nor was the parts diagram in the ford parts book clear enough to ascertain whether such a seal exists. So I am left in a lurch, unable to prevent oil from running out the shaft. There is a groove machined into the shaft that suggests such a seal is necessary. Fortunately I have an extra sealed bearing type fan hub from my '49 Mercury which will do nicely until I can find a cure for the oil leakage on the orginal ford fan hub.
The pickups use 30 weight oil, just like the engine does. The fan hubs for the 48-52 trucks come apart and also have a screw in the side of the fan belt hub. You remove the screw, squirt in about an ounce of oil. Turn the hub around a few times by hand and then turn the hub with the hole pointing down. Make sure you have something under it to catch the excess oil. Then put the screw back in. The cars had the sealed fan hub.