They say that old rubber hoses swell/deteriorate and cause this problem.
Much discussion on the 356 Porsche group on this subject.
Bakeryoung@aol.com wrote:
>
> As an owner of a Datsun 510, an early 1967, I've developed a problem with the
> brakes. The fluid is not returning to the reservoir therby the front discs
> lockup.
> I've checked the stroke on the master cylinder and it is fine. The brake
> propootioning valve was checked and the operation of it seems fine. Under a
> lockup condition I crack a connection to the master cylinder and the front
> brakes release. I replaced the master cylinder with a rebuilt unit and The
> same problem exists. Any ideas out there?
>
> Zappa
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