Fuel pumping out of carbs

I just purchased a 1974 TR6 that has been sitting in storage for past 20 years. I made sure engine was free, put in a new battery and points. The car started right up (air cleaner is off) but fuel is pumping out of one of the top ports on upper left side of throat on each carb. I am unsure if this is a stuck float or? Anyone have any idea what the cause is and what my fix is --- the car ran fine so I was hoping to prevent a complete carb rebuild. Thanks

You have SU carbs on this, right?

Rebuild them. Chances are there is a lot of dried gum, varnish, deposits and corrosion all over the insides of the carbs that mess up not just the floats, but also the vacuum pistons, which must move freely and properly for proper jetting and performance.