Douche the entire splitter with some foaming engine degreaser and pressure wash the entire thing. Motor, structure, hoses, everything. After 40 years, it deserves it. You may have a very well made device, built with some very good parts, but with it being so grimy, you'll be stepping over dollars to pick up dimes if you dont go through all of it, once. You'll be doing youself and others a favor to give it some love, and know everything is back in shape.
I had a Bobcat Skid steer with 10k hours, never touched the motor, never opened the pumps up. Just a few rams got re-sealed in its life. One starter, one alternator, many oil changes and fillters, but never broken down or failed to work. BUT- when it was too leaky to take to a clients for fear of dripping oil on a nice drvieway- had to get serious about it. At 10k, took the cab off, jacked it 3' in the air, steam cleaned/degreased that undercarriage and chassis, and started it up. (It took most of two days and multiple cleaning cycles to get it clean) The large hoses you could never see, all weeped under pressure, just started sweating oil out of the dry rotted rubber covering the lines braided hose jackets. it was not a cheap date, but they were easier to buy (and availible from Bobcat) and replace, than to use our own Hydraulic line making equipment, and the in house mechanic was relieved.