Scott I can't remember on the 216 but there is a coolant plug on the back side of the 235 that will leak and if it does the water will run down as you mentioned. I believe (emphasize the word "believe") the 216 is the same. To fix this you'll need to remove the transmission, clutch, flywheel and separate the bell housing from the engine. Not a fun chore. Here is an image of the 235 plug...goes right in to the water jacket of the engine block at the rear.
~ Jon 1952 1/2 ton with 1959 235 | T5 with 3.07 rear end
