It's just a guess but I bet the rear band (low/reverse) is probably worn and the servo pin can't apply enough pressure for the band to hold. I bet if you shift to manual 1st gear you probably won't have engine braking when you decel. There is also the chance that the servo piston could be broken too. Either of these are an easy fix after the pan is dropped and servo cover removed.
If you are able to drop the pan and filter, the servo is just another 5 bolts. It is the big can shaped cover in the rear or behind the valve body. Often times you can buy a longer pin ( try ebay) or weld 1/8" tab on the end for extra length, you can chuck pin in drill and shape it on a grinder to match pin size. If none of this sounds good to you, take it to a trans shop and lube up.
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Today's Featured Article - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
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