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Ok, So It's A Ranchero, But Technically A Falcon Underneath 
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0601Cr Air 16 Z
When installing disc brakes and retaining the original drum brakes in the rear, some sort of proportioning valve should be used. This adjustable valve was designed to be plumbed in line somewhere between the master cylinder and rear brakes. It allows the small amount of constant pressure the drum-style brakes need to work properly.
1966 Ford Ranchero Rotor Caliper View 1966 Ford Ranchero Brake Pad View 1966 Ford Ranchero Engine Bay View Master Cylinder 1966 Ford Ranchero Trunk View Compressor 1966 Ford Ranchero Interior View Gauge 1966 Ford Ranchero Wheel View Close Up