Ed: Get yourself a manual if you don't have one. The I+T manual that I have for the 240's larger kin, the 460, does a pretty thorough job in explaining things. There are some slight differences in the hydraulic systems of the Utility vs the Farmall. The manual will explain those.Having said that, it sounds like the feedback linkage from the fast hitch rock shaft to the fast hitch spool valve is not adjusted properly, have parts missing, or just may be unhooked. I'm assuming the 240 has a Tel-A-Depth feedback control (the linkage just mentioned is part of this), there might be a problem with the little differential gearbox that is inside the rear cover cap of the fast-hitch spool valve. If the gears are stripped or the gear axle pins are wacky, the system will fight itself. I'm not familiar with a 240, but it probably isn't too different from the 460. Again, get a manual. PS-One very important item to check: there is an orifice plug and screen located in the control/pressure regulator block. If this is plugged, the regulator valve can't get a signal to unload the hydraulic system when flow is not diverted to other tasks such as raising or lowering the hitch. A tell-tale sign of this is an RPM increase when actuating a cylnder, then an RPM drop-off when cylinder movement stops.
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