Hey Mustangs

I have a question for anyone that has an Idea where my Transmission is leaking from its an 1965 Mustang 289 and Leaks. I'm thinking it's coming from the Pan or the Hoses that someone bypass not sure why someone would bypass the hoses. Around the value bodies and the shifter looks good doesn't look like it has any leaks to me. Our Mustang leaks even if you don't start it up. If anyone has any ideas where you think it would be leaking from let me know - I see transmission fluid on the hose and some transmission bolts Thanks In Advance for any help with our Mustang. I have photos attached