Proofmeter cable leak - basic hydraulic pump questions

[bowlingd]

I'm a newbie who's having trouble with a leak from the area where the proofmeter cable attaches to the rear of the hydraulic pump on my '55 Ford 860. It's actually leaking in two places (more quickly in the rear than forward). See link to video below.

After spending a few hours today unsuccessfully trying to fix the problem, I have some basic questions about how this all works:

Q1: From what others have said, my understanding is that this is probably engine oil?

Q2: Should there be engine oil in the rear housing of the hydraulic pump? (My current understanding is yes)

Q3: Should there be hydraulic fluid in the rear housing of the hydraulic pump? (My current understanding is no)

I replaced the gasket on the pump-side of the proofmeter housing, to no avail (actually the brand new gasket disintegrated). Then seeing that I wasn't really sure what good the gasket does anyway, I used teflon tape on the pump side of the proofmeter housing...also to no avail. I also used teflon tape on the proometer connection, but unsurprisingly this didn't help either.

Any help or basic knowledge would be appreciated! Thanks!

Video: Proofmeter leak - YouTube

 

[boomer1025]

Should be a seal in the tach drive on the rear of the hyd pump where the cable screws too.

 

[bowlingd]

Should be a seal in the tach drive on the rear of the hyd pump where the cable screws too.

Is this the seal you're talking about, or something different? If it's this seal, I've tried replacing it, to no avail.

 

[boomer1025]

There should be a seal on the rear of the pump where the tach cable attaches.
There should be no oil coming out of rear of the pump even with the tack cable unhooked.