Classic/Antique Car Repair: oil in radiator, blown head gasket, cracked block

Question
I purchased an 1947 Oldsmobile, she has a small amount of oil in the radiator. What would be the cure? Is the problem associated with a blown head gasket or cracked block? Thanks for your reply.

Answer
If it is a real small amount, you may have no problem at all. If it persists, you have an oil leak into water chamber which is actually fairly hard to do. At the head, there is one strip where this can happen. I would lean more to bad gasket than cracked block. Where they want to crack doesn't general result in this.  

You did not mention what engine you have (original, changed, flat head, etc)