1951 Ferguson

Most likely the control valve is sticking. With the engine off,and the lift in the raised position, remove the sie plate on the right hand side. there should be an "H" shaped device hanging down into the oil. Reach down into the oil asn feel the "T" shaped control valve actuatorin the "H" shaped control fork. Pull back on this and the lift should drop. Move the valve actuator fore and aft several times and see if it"s "sticky" in the bushing. Start the engine and then see if you cured the problem. if not, you"ll have to drain the fluid and clean out control valve bushing.
 
I had this same problem on mine. It was the quadrant where the finger tip control lever goes into the tractor. Loosen the bolts and push the plate all the way forward. Then retighten.

Mine is all the way forward. If it gets worse I"ll add a shim to the mechanism. The finger tip control lever has another lever inside the tractor which pushes on something to release the hydraulics.
 

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