[yachtsmanbill]

The pump turns the same direction as the engine. Take a foot at a time of that packing and wrap the shaft in the rotating direction adding some graphite never seize as you go. Run the nut (gland) as tight as you can by hand and turn the pump. Tighten a bit more with the water pump pliers until you feel decent resistance. If the gland bottoms out, add a few more wraps. Ideally, you need maybe 3-4 turns of engagement with the gland. Fill with water and fire it up. Snug the gland until is JUST WEEPS a drip of water. It needs to burnish itself against the shaft. Wrap your fingers around it and it should be NO HOTTER than the water, if it is, back off the nut a bit. Add water as necessary. After a while snug it a bit and eventually it "shouldn't leak". That depends on the shaft condition.
Honestly, a T shouldn't need a pump, but that's your call. Depending on the pumps gland, It may want to loosen up. I used a big pair of rusty vise grips on one and the weight of the pliers kept it from loosening.
If that skinny packing seems too small, you can also braid it into a double or 3 or 4; the main goal is don't overtighten it to get it hot; that's bad! Don't forget, the flat belt only drags on about 1/8 of the pulley. Too tight and it wont turn. Theres a happy medium with all that T stuff. ws