At the junction of the shaft and the packing nut?
On my Fords, you just tighten the packing nut a little, the 22 should be the same. If the nut won't tighten chances are the packing is worn out. I've bought graphite impregnated valve packing at the Hardware store to remedy these before. You can get a "Marine" grade of grease you can use to lubricate the water pump bearings.