When you say it "loads up" do you mean it smokes black and loses power, or does it lose power and stumble under load with no black in the exhaust?
If the former be looking for float level set too high, a float pontoon cracked/flooded, possibly an orifice ("jet") loose inside the float bowl, etc.
If the latter I'd start with the governor. Make sure it's opening the throttle plate the full 90 deg with the governor handle pulled back and the engine stopped.
Another thing to check is the spark timing - both at slow and max idle RPM. It should be at TDC at low idle and advance to 35 deg or so at speed. If it's not find and fix the cause before messing with the carburetor.
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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