[Bob C]

This is from page 361 of the Service Bulletins.


Rear axle shaft, drive shaft, and rear wheel
grease retainers, part numbers A-4245 and
A-1175, must be installed with the sharp edge
of the leather section of the retainer pointing
toward the part from which the grease would
flow (see Fig. 736). In other words, the rear
axle shaft grease retainer must be installed
with the sharp edge of the leather section
of the retainer pointing toward the differential.
The rear wheel grease retainer must be
installed with the sharp edge of the leather
section of the retainer pointing toward the
bearing in the rear hub. The drive shaft
grease retainer must be installed with the sharp edge of the leather ·section of the
retainer pointing forward on the drive shaft.