Hydrostatic transmission having hydraulic dampening and neutral bleed mechanism

A hydrostatic transmission (20) including a fluid motor (24) and a variable displacement fluid pump (22) in fluid communication with the fluid motor and having a first and a second, much greater, fluid displacement rate. The pump is mounted on a block (32) having a cylindrical surface (129), a passage (236, 240) through which fluid flows from the pump to the motor, and a fluid bleed hole (222) extending from the passage to the cylindrical surface. The passage and a sump external to the pump are in fluid communication through the bleed hole and the void (220) of an annular element (100, 100') disposed about and in sliding contact with the cylindrical surface when the pump is operating at its first rate and the annular element is in a first position. The bleed hole and the sump are substantially out of fluid communication when the pump is operating at its second rate and the annular element is in a second position.