The steering column may have been serviced some time in its history. There are snap rings that fit in machined recesses in the steering shaft.
I just converted a column shift to a floor style on a 74 Duster column. There is a shaft-within-a-shaft slider type of deal, mainly to allow the column to collapse on impact instead of making the driver a shish-kabob.
Long story short, the snap rings may have worked their way out, or a bearing has worn enough to cause slop. I dont know the '69 and older columns very well, but the 70 and later units are pretty easy to service. If you can get a factory service manual, take your time with it. Once its apart, the problem may be obvious right away.
Last edited by Frankenduster; 06/23/10 02:55 AM.