Doesn't look like a leak to me. Heck it's barely even wet.
Like Kent said, there's a cork gasket between steel washers. Snug up the big nut and you'll be golden.
Kevin 1951 Chevy 3100 work truck Follow this saga in Project Journal Photos 1929 Ford pickup restored from the ground up. | 1929 Ford Special Coupe (First car) Busting rust since the mid-60's If you're smart enough to take it apart, you darn well better be smart enough to put it back together.