My 1st tractor was a Farmall B. I believe your rear main engine seal is leaking. The transmission oil in mine, 80w or 90w, never turned dark. These engines were designed to use non-detergent oils and if modern oils were used that could have started the leak. Leather seals and detergent oils don't always mix well. The timing mark was on the front pulley, as I remember. It's gonna require splitting the tractor to repair. That's a "BIG" job for a non-mechanical type. If it was me, I'd see if I could maybe trade into some a little more modern. Those old draw-bar tractors are neat. But, something with hydraulics, and a three-point hook-up give a lot more options, not to mention safety.