Factory spec is S.A.E. 160 SUMMER & S.A.E. 90 winter . I use S.A.E. 140 moly . NOT 85W140 as it is way thinner. Many use cornhead grease & there is "00" viscosity liquid gear grease available also . Your call .
PennRite steering box lube, 1200W available from Restoration Supplies, Escondido, CA. Do a search on the Barn, this has been discussed many times before.
Factory 1932 spec for all gear oils was early grades/versions of special gear oils for spiral sliding contact type gears...like that 160, don't remember the other grade mentioned. Ford upgraded recommendations for 1932 to the normal 90 and 140 in later sevicce literature, so get your choice of those...and add the steering column tube to keep it on the inside.