God '56! Are there that many of us around that remember the self-powered bailers with the Wisconsin's? And the 'Hand wheel' starting? ~SWill it run a baler? Yes. Will it run a 14T or a 336? Maybe.
I'm not familiar with the 50, but a bit of research brought up one concern; not all 50s were equipped with a rear PTO. I guess the one you're looking at has one?
Worse case scenario, you could always find a baler with it's own engine. A lot of older square balers had Wisconsin air cooled engines on them, all the tractor had to do was move it across the field.