I can't tell you how to read the dip stick, but I might know where the oil is coming from half up? IF, and that's the big IF here, you pull your dip stick out, wipe the end of it off and then put it back down to read the oil, it's possible that from pulling the dip stick out the first time, the oil on the end of the stick is rubbing / coming off someplace half way up the tube as it makes contact with the dip stick tube.
Then when you reinsert the dip stick for your reading, it's contacting the oil that rubbed off the first time you withdrew the dip stick. If this is the case, only pull your dip stick out once and read it. Don't wipe it off and then stick it back in for the reading. This method won't work if you've shut the engine off from splashing oil all around in the last 30 minutes, but let it sit overnight or several hours and it should work just fine.
Bill
Nodwell RN110 out moose hunting. 4-53 Detroit, Clark 5 spd, 40" wide tracks, 10:00x20 tires, 16,000# capacity, 22,000# weight. You know the mud is getting deep when it's coming in the doors.