The "reaction shell" is a common part to break in the 700R4s/4L60s. When it goes you lose reverse, 2nd and 4th. 1st will still work fine.
Regardless of what's wrong - you're likely in for a tear-down and many, many updates if you want to make all efforts to make a "best" repair. HD shell, new 3-4 clutch pack, new sprag, oversize servo, kevlar brake-band, 5 planet pinions from a 4L65, modular seals instead of rubber rings, etc. I just got done doing my own in two rigs. A 1986 and a 1992. I had to buy two special tools that cost me $50 in total.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
... [Read Article]
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Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
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