Sounds like a stuck intake valve. Download the service manual for that series or the k301 manual. You can take the valve cover off to see if it's stuck open. Try not to use too much starting fluid or you could make things worse.
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(2) Original, 100, 102, 124, 73, 800, #1 and #2 cart, brinly plows, disk, IH184, IH244, 1948 F Cub
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