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My '70 power steering control valve has a little leak. Now there is a zerk fitting on there. Apperantly this requires a shot of grease every once in a while? any specific kind of grease?
Don't get carried away shooting grease into the valve as you can damage the seals. Some suggest greasing it with the engine running. In any event, a shot or maybe 2 every once in a while is sufficient.
If you look at the valve, you'll see that it has 2 castings bolted together in the center. The zerk half of the valve contains chassis grease to lube the ball stud on the top, the other half contains power steering fluid under pressure from the pump which gives you power assist. There is an internal seal where the 2 housings bolt together which prevents p/s fluid from getting into the grease side of the housing. If your leak is p/s fluid, fluid is probably getting past the seal and coming out of the ball stud area on top which is in the grease side of the valve. It doesn't necessarily mean you need to address it today, but the leak will get worse over time.