[Jason in TX]

On that leaky water pump, there is some rope impregnated with lead and graphite behind that brass/silver little nut. Usually you start the car and with it running, take a flat blade screw driver and on the passenger side of the car, you pry up on that nut to tighten it a little. There is an official wrench for it, but people in the 30s just used a screw driver. don't break your pump though if it's really hard to turn. It should be kind of easy to do. Just a little bit should do it and the rope/lead/graphite junk inside squishes a little more and the leak should stop.

A lot of guys get tired of doing this tightening thing that is actually regular maintenance and just get a leakless waterpump that has rubber seals inside so that it looks stock with the packing nut, but you don't have to tighten it anymore.