Assuming that it is a normal gland, then you would use Gland Packing. This is a product that used to be common in motor-cars and industry, but is less so today. It looks like light rope, impregnated with either lanolin or graphite, and wrapped with a metal foil. You have wrap it around the shaft so that you can cut it into short lengths, which you place in the gland housing like 'doughnuts'. The ends of the 'doughnut'' are offset from the ends of the next one, and you may be able to get two or three into the housing before placing the end cover on and tightening it down just enough to stop water from coming through. Over-tighten it and you'll create a brake on the shaft and wear the packing out quickly. Ask the oldest motor-mechanic that you can find, or try for a workshop who like to restore old cars, for guidance on where to buy this gland packing.
Peter.