John, I can't address the issue with specifics regarding this particular tractor, but I can give you some generic things to check.
First thing to check is the cooling system beginning with the fan belt. Check the fan belt for proper tension and for severe glazing, either of which can cause belt slippage and loss of fan speed.

Next, check the coolant level in the radiator.
Next, check the radiator core. Make certain the external fins are not clogged with accumulations of debris. And not just by giving the radiator a quick glance either. I have seen radiators that "look clean" but were clogged deep inside the fins where you can't see easily. Best way to check external fins for clogging is to shine a light through the radiator from one side while you look at the opposite side, in the dark of night or in a deeply shaded place.
If you do not clearly see the light shining through all areas of the radiator core, blow it out with compressed air or use a garden hose and detergent. It might require compressed air and the hose and soap to get good results.
Don't be tempted to blast it with a pressure washer unless you keep at least a foot distance from the washer tip to the radiator for a 1,500 to 2,000 PSI washer. Even more distance if the PW is higher PSI than that.

Remove the radiator cap and look at the tubes of the radiator core (you might have to drain some coolant to expose the tubes). Shine a flashlight into the tubes that you see. Are the tubes nice and clean, somewhat elongated open tube shaped? or are the tubes sort of "fuzzy looking" with scale deposits growing into the tubes and restricting the flow of coolant? If the tubes are not clean and well defined, you need to have the radiator cleaned (rodded) by a professional radiator shop. Beware, if the radiator needs this type of service, and the core is the original, you may need to "recore" the radiator.

Sounds like the fuel line is running to close to the Exhaust Header or Piping . Try relocating if possible or at least insulate the area between the fuel line and Engine Block Exhaust Manifold or Associated Piping. You are experiencing a vapour lock scenario . Otherwise your fuel pump is going south causing the fuel to not flow properly causing the boiling situation . The second condition is normal when no changes have been identified. Rerouting of lines or no history of a second hand tractor is the usual issue with th 1st scenario .

I'd chalk some of your problem up to the crap that passes for gasoline today. Your old Fergy likely has the fuel tank mounted just behind the dashboard. This location would allow engine heat to affect the temp of the fuel stored in it. There are foil-type heat reflecting materials available that could possibly be fitted on or near the tank that would reflect this heat and help keep the liquid gasoline much cooler.

The second item I think your Fergy would have is a copper gas line running from the fuel filter under the tank and to the carburetor. Copper is a material that picks up heat quickly and transfers that heat to the gasoline running through it. Changing to a neoprene fuel line may also help.

I'm also going to assume that your Fergy has an updraft carb bolted to a cast iron intake that also resides next to the cast iron exhaust manifold. Heat from the exhaust manifold gets transferred to the intake manifold which in turn, transfers heat to the aluminum body of the carb.

I would be looking for a bakelite or similar material...spacer plate to go between the carb and the intake manifold. This spacer plate acts as a thermal barrier to stop excess heat from getting to the carb and affecting the fuel in the float bowl.

Placing a metal heat shield between the carb and the engine block will also help. The shield should not touch either item except for where it is mounted and can be made of 14 guage aluminum to keep it from rusting. Stainless is another option. Having air flowing freely across both sides of the shield helps dissipate the heat from it so don't shape it in a way that would inhibit good air flow. This is "radiated" heat I'm talking about here. The sun gives off radiated heat and so do engine blocks.

Ohio: I think Mownie misinterpreted a Hot Running Engine (Radiator) related issue rather than the identified fuel boil (percolating) issue . I concurr with everthing that Komp has advised. Have worked on numerous Fergusons and Harris and Cocke-shutts and International Side Draft and Updraft Orientation Carb Fuel Systems. The best thing to 1st do is reduce the absorption of heat to your Carb and associated fuel lines . Direct Heat Radiation and or Conducted Heat Isolation from any Hot Spots via Insulating the Fuel line over the Manifold or Exhaust Piping , secondary isolating by a deflector (Plate or Foil ) the Carb flange location . The insulator carb block long term may also assist with increased venturi flow (Better Fuel flow) along with the reduced heat transfer (cooler fuel charge) that Komp has advised . Try the quick fix with small section of Foil cold water piping insulation on affected gas line section and also Foil (Aluminum) wrap if required for the Carb Area . More Permanent design can be applied should the 1st phase prove satisfactory .

Was not misinterpreted. But I may have presumed that the other conditions had already been attended to.
My focus on the cooling system as a root cause was based on the circumstances of vapor lock and boiling gas one of my uncles had years ago in an early 50s Ford (old "red belly").
His carb would boil fuel out after he cut the engine off after working in in the field.
He eventually found out the radiator exterior fins were nearly blocked deep inside where you could not see it.
The blockage was due to the fine dust that turned to mud, and then became hard like adobe bricks.
He also did not think the engine was running hot because his "manual temp gauge" was defective.
All the points made by other members are valid and good info.
But just as was the case with my uncle's Ford, I figured the condition affecting john's tractor had come on gradually and gotten worse with time. That scenario would be consistent with conditions causing the engine to either produce more heat, or to be less able to shed heat.
If this tractor had suddenly developed this problem after some repairs had been made regarding the carb mounting, or manifold gaskets, etc. then I would probably have suspected a misplaced fuel line.
But nothing was mentioned to indicate that, so I suggested circumstances might be due to the tractor becoming less able to rid itself of heat through the cooling system.
Anything that obstructs air flow through the radiator, or that affects fan speed, or both.........also reduces the volume of air flowing back across the sides of the engine and the manifolds. Reduced air flow along the nether surfaces and components of the engine will increase the heat gained by these parts due to radiational heating and conductive heating as well.

So, when trying to find and kill the gremlins in the back, don't overlook the witch up front.....she may be orchestrating all the mischief.

Mownie : Worked on a few of the Red Bellies (1953) . That Poor of Air Circulation certainly would contribute to a very hot engine surface temperature . That engine must have been in the Death Shuddering Stage lol . Should have know you were indicating the Witch vs the rather than the Gremlin Scenario Dude (have to remember that one ) :).

One trick to reduce vapor lock in a fuel hose is to put a crinkled layer of aluminum foil on it. This gives it a heat sink.

If this solves the problem then you can look at engine temp and hose location as possible causes.

And don't be fooled by a fuel filter that is not "full".

Three days have passed and seven reply posts later, the OP is nowhere in sight. I'm beginning to think that this discussion matters more to us than it does to him.

Perhaps he too has developed a Vapour Lock ... Roflmbo !

ewalk, mownie, kompressor & of course w-h,

Thanks for all of the info.and you're right in a way. My computer kind of got a vapor lock and I was offline for several days.

Also I posted this query for a friend of mine who had talked about working on his fergy with no luck. He bought it used and the problem has been there since he acquired it and he said he was not really up on computer stuff yet. I'll see him this evening and am printing off all of the advice you guys/gals provided and we'll see what happens. If you or anybody else have more suggestions let'em fly and we'll try to respond in a more timely manner. Once again thanks for all of your help