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I have a 84 F 150 360 HO. I just got it and it has been used very little for the last 2 months. I have two problems. #1- I noticed the carb. is leakining, it looks like gas is spraying out the side of a 3/8 rod that runs from the front to the back, it is spraying out of the front, where it goes into the caarb body. Your going to say rebuild or replace any thing else; maybe the float is stuck or ? It still runs great but I can't have it leaking. Also it appears that one of two inline catalytic coverters is leaking.
What this sounds like to me is a leaking seal, sometimes they fail when the vehicle is sitting for a little while. Unfortunately, there isn't much you can to stop a leak like this.
Sitting is hard on any vehicle.
For the cat, if it is leaking at a seam, I would just try some muffler tape (check and make sure the package doesn't say not to use it on cats, they get a lot hotter) that stuff is pretty good as long as you follow the directions, and can fix most exhaust-type leaks.
If you want a better answer on the carb, I would take it to a carb shop and let them have a look. The shop guys are usually pretty good about handing out advice, even if they know you won't be getting something fixed by them.
I am going to assume you have a 351wHO, and 360HO was a typo. It also sounds like you might have the Holley 4bbl carb. If this is the case, then the pipe that is leaking is the fuel transfer tube. It is how the fuel gets sent from the front to the rear of the carb. It has an o-ring in the end that must be cracked on yours. You can go to a speed shop and buy the o-rings separately. But to replace it, you will have to take the 4 bolts loose on the front of the carb, and pull the bowel off. This means you will need new bowel gaskets too. If you can't find a store that sells this stuff separate, then you will have to buy a kit. Don't worry, a Holley carb is very simple to work on.