I had some of the same issues on my 1872 and here is what I found. May help you. The PO had never adjusted the gap on the pto. That is probably why you have to hold it. Either that or it's because of one of the safety switches that were bypassed. Always a good idea to check the PTO gap. If it is too wide it will draw excess current. This will make the connectors at the PTO switch, ignition switch, and the PTO relay get hot and melt along with the PTO relay itself. I had to replace all of this on my tractor.
I'd start by setting the PTO gap. Then I would look up the wiring diagram and check that each and every safety switch is working or PROPERLY bypassed(not recommended). Some switches are normnally open and some are normally closed. Then move on to checking and cleaning the wiring connectors and grounds.
Beautiful tractor!
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