He's talking about the PTO bearing.
I'm thinking that this is probably due from not using it for a time. The proper way to fix would be remove and rebuild it, surface the plate and hub and a new disk. However, you might get away with moving the lever out of the way and tapping with a hammer several times right in the middle of the PTO itself on the button. This is how most move the set screw holes into position with the basket knotches to line them up. Try turning the hub as you tap with the hammer and you might end up working it free.
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(2) Original, 100, 102, 124, 73, 800, #1 and #2 cart, brinly plows, disk, IH184, IH244, 1948 F Cub
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