If it were bad seals in the cylinders, the loader would fall back down all by itself. Tilting the bucket would not cause the loader to drop.
On a large-frame tractors of that era, the two hydraulic levers shared a common pivot. One lever had a tube, and the other had a rod that ran through the inside of the tube. If a tractor sat around long enough these could get sticky and moving one lever would also cause the other to move with it, activating both remotes. You wouldn't notice it raising the loader, but tilting the bucket would also cause the loader to drop.
I don't know how the valves are arranged on a 544, though.
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Today's Featured Article - A City Guy's First Tractor - by Fred Hambrecht. After living in apartments in Atlanta for more years than I care to remember, the wife and I decided to move to the country. Humming "Green Acres is the place for me..." we purchased a 29 acre tract about 60 miles south of Atlanta. Next came the house, I could talk about that ordeal for another two weeks... But, I want to talk about my tractor! We didn't even own a lawnmower, and all of a sudden we had enough grass to feed all the starving children of the bovine world. Naturally, I talked
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