1953 IH R112. SD220 engine. 1st start in 35 years. Changed all fluids. Rebuilt carb (I did it). Machine shop rebuilt head. My buddy adjusted valves. Truck will fire off immediately and will run with very little throttle applied. Leave off the throttle and it dies. 50% or more throttle and it sprays a constant mist of fuel out the top of the carb while it bogs horribly. Don't know if this means anything but putting hand over carb it stalls out. Pinched the fuel line and it still misted fuel out the top until it went dry and shut down. What are the most likely culprits and why would it blow a mist out the top of the carb? Any other testing I can do?