Some more work done to it:
replaced wheel bearing and race and repacked it on both side. After all old grease dried up over the years, moisture accumulated and the bearing cage all fell apart.
drained all old gas, used a whole gallon of iso-propyl alcohol to get rid of all moisture in the tank. There was at least 2 quarts of water on bottom. lots of rust on the bottom of the tank.
hydraulic fluid looks a little milky. going to replace the fluid n filter. BTW, what size filter is it? can I get it from auto part store? the filter is all white, no information on it. Thx. Erwin