Take a close look at that 165....You should see the ends of cotter pins sticking through the TWO weep holes. Those help to keep the holes from packing full of dirt and debris. The cotter pins are loose, and any time they brush against anything (ie, grass, weeds, ect) they move, clearing any obstructions.
The locations of the TWO weep holes on the 165 will be identical to the locations of the TWO weep holes found on a 35. It's not uncommon for the cotter pins to be gone....They get sheared off or might have been removed by someone who just didn't know what they were for. Once they're gone, dirt can pack in the holes. The dirt gets oil soaked, then dries out. After time, the holes are sealed as if they never existed.
Or, it sounds like someone may have drilled them out, tapped them, and threaded bolts in the place of the cotter pins.
At any rate, they need to be found and left open to drain or you'll have clutch troubles in short order.
Oil may come from engine OR tranny... (Rear main leaking, or rear oil pan gasket leaking in the event of engine oil. Front input shaft seal leaking in the event of tranny oil) A small amount of oil dripping isn't uncommon, nor is it a serious problem. Excessive amounts need attention.