Greetings. Just got the new plug wires finished and put 1954 elgin in the barrel. She started right up (after I got the plug wires reversed). Exhaust spraying from the holes in the leg so I thought i was good.
BUT there is some milky greasy looking stuff oozing from around the shift lever as in the photo. Can anybody give me an idea if this is a problem or is it just exhaust oil/water mixed? Any thoughts are appreciated.
That is oil that has already gone through the motor and done it’s job. It is now mixed/emulsified with exhaust/water. Any that leaks out there was headed for the sea anyway. In other words, no problem except for the visible mess.