That's called the bleed screw. It shouldn't be that hard to get loose. Try a little PB Blaster and let it soak in for a while. Make sure you use the proper sized wrench. Some of those buggers are SAE sized and some might be metric. Best tool is a six sided socket. 12 sided sockets or box wrenches are a little more likely to round it off. With the help of a friend you'll want to pump a fair amount of new fluid through the system to get out all that crap. Start with the wheel farthest from the master cylinder and work closer.

 

Thanks, After soaking it and using vise grip pliers, I got them loose. but I can't seem to get any fluid out of them using the vacuum pump from auto zone.

 

Have clear fluid flowing out of all four bleed screws now. I figure I'll l let everything settle over night and bleed them again in the morning. Thank you all for your help. It's Yuengling time.

 

If you used vise-grips on the bleed screws you probably buggered them up. Best bet is to install new ones. They're pretty cheap.
I've had the same problem with one of those vacuum pumps. They suck air in around the threads of the bleed screw. You need to have somebody step on the brake pedal to push the fluid out.

 

Yep, my 13 year old was getting a bit of a work out pumping the pedal.

 

I now have clean fluid and while I was in there I replaced the back cylinders. I also cleaned up the drums and painted them. unfortunately I got some paint on the inside of the drums causing some sticking when I brake hard. but that seems to be clearing up as I drive the car.

I had to bring the adjusters way in so I could get the drums on the back wheels. I assume that they will self adjust back to the proper setting. right?

Am going to go testing it today and try to get the brakes heated up to verify all is working well.

Thank you all for your help on this!

 

The self adjusters work when you apply the brakes in reverse. It may take several applications to get them adjusted. A little paint on the braking surface isn't that much of a big deal.