The valve illustration in the previous link is a Pressure Differential Valve. That particular valve is a for a Mustang with drum brakes at all four corners.
If the Mustang had discs front/drums rear, there would be a an add-on proportioning valve in tandem with the pressure differential valve to regulate flow to the rear drums.
In the early to mid-'70s, Ford began producing Combination Valves for vehicles that had discs front/drums rear which was all self-contained in one valve block. It had a valve spool inside to sense if there was a pressure drop between the front to rear brake circuits. If, for example, the rear brake line or hose ruptured, the drop in pressure (when the brakes were applied) would cause the valve spool to shift to the side of least hydraulic pressure --the failed side. This would cut off fluid flow to the failed side and keep from draining the MC.
The other function of the combination valve was proportioning. Discs and drums don't react at the same rate when the brake pedal is applied. The proportioning side of the valve has a spool and a spring of a given tension rate. When hydraulic force is applied, via the brake pedal, the spring will resist the hydraulic force until a predetermined amount of pressure acts against it to begin opening the valve to allow flow to the rear drums.
Additionally, if a person is using a combination valve that was designed for discs/drums but have converted to 4-wheel discs, the disc/drum combination valve can still be used, if you gut the secondary [proportioning] side of the combination valve. Simply unscrew the large cap from the end of the valve body, remove and discard the valve spool and spring, and replace the end cap with a
solid end cap [one that does not have a black rubber plug in the center of the cap].
Brake systems can be plumbed without a pressure differential valve, but it does take some of the safety factor out of the brake system. Gutting the secondary side proportioning circuit does not disable the pressure differential safety feature of the valve.
Combination valve commonly found in Mavericks or Granadas, for example, designed for discs front/drums rear:
Modification to above valve's secondary side if rear drums are being replaced with rear discs:
Actual combination valve showing what proportioning pieces to remove from the valve body's secondary side:
Cap with black rubber plug on left has to be replaced with a solid cap as pictured on the right:
A manually-adjustable proportioning valve can be plumbed, inline, bewteen the valve body and rear brakes, after the secondary side has been gutted, to allow fine tuning of the brake bias front-to-rear.