Thank you FuzzyDriver for your response. I hadn't thought of the float valve in the same manner that you are. In fact, my thinking was just the opposite of yours. To me, it seemed that if the float valve was the cause, the leak would be more likely to be displayed when not running, and not when the vibration of the running engine would tend to free it. Additionally, I don't understand why any excess fuel doesn't get sucked into the engine with the incoming air rather than go in the opposite direction.
I recall this mower was in rough shape when I bought it about 6 years ago, but I can't remember if I did anything inside the carb bowl. The C clip that holds the recoil together fell off this week (can't figure out why), so it will be a good time to remove the carb while I've got the recoil off. I may not get a chance to do it before we get snow, but will respond again when I do. In the meantime, I'll have to fire up one of my other LB's to do my final mow this year.
The repair manuals indicate that carb cleaner is not appropriate for these plastic carbs. Do you know of an effective cleaner that is safe to use?
Thanks again.