On my new old jack, I put a pint of jack oil in it, and it worked up and
down. It sputtered a couple of times, and kicked out some milky looking
fluid from the filler hole. Aha, I suspected water. I drained all the oil,
and it was a milky gray versus the light black of new oil.

My question: will this separate overnight, and can I then recover the oil
and toss the water?

May just flush and add new oil, but flush with what?

Steve