The first thing I would try to do is tighten the collar. There are two washers sandwiching a seal (either felt/cork/neoprene) that gets compressed when you tighten the collar. As the collar seal wears you can tighten to get it to stop. If your lucky the packing material isn’t rock hard as many of this age are.
I installed a new neoprene seal and tightened it pretty good and it still leaked. I tighten twice more and finally got it to stop. Trust me, it was really tight, much more than I thought it should have been but it stopped.
Use a strap wrench to tighten. Good luck!
Last edited by Phak1; 03/19/2021 8:37 PM.