The housings are cast STEEL not cast iron as many point out, so it's possible to weld it..
I wonder if Harry is thinking of JB Weld. If the hole is small, and you can get ALL of the oil and grease cleaned off of it, you should have a decent shot at fixing it with JB Weld. So long as you:
1. Clean it extremely well.
2. Get a NEW tube of JB.
3. Mix the JB thoroughly
4. After applying it, give it the FULL 24 hours to setup and harden before you do anything to it..
Every time I have short cut the steps I have had poor results, but when I do it right and give it time, I've got bearings and shafts being held in place for years with that stuff.
OR, you could swap the rear end.. My son and I have been collecting parts tractors and at last look we have 3 complete 4xx rear ends in the barn. We are located in Central Illinois right at the confluence of I-55, I-74 & I-39