Hi,
Good that the valves move again.
If the head is still off, you could put some light motor oil on the valve stems, under the valve heads, at the top of the stems, and turn the engine slowly, and try to work the oil down the stems some.
While the hood is off the engine, you could oil the fan hub, they use motor oil.
I would also clean the air cleaner, wash out the whole assembly, and clean the oil cup, and put in new motor oil in the cup.
Below are pages from the Cub owner's manual explaining how.
http://farmallcub.com/rudi_cub/www.clea ... age-28.jpg
http://farmallcub.com/rudi_cub/www.clea ... age-29.jpg
You should oil the fan hub even if you put the hood on, people on here have had them seize from no oil in them.
I use a pump oil can from the right side of the fan, be sure it is clean motor oil in the oil can.
When the air cleaner is off the engine, I put in solvent into the mesh area, with it upside down, put on the oil cup, with no oil in it, and slosh it around well, remove the oil cup, then pour it out.
If you pour it out into a clean oil drain pan, you can see what was in the air cleaner.
Repeat the sloshing with clean solvent until it looks clean. Hold it on it's side, and right side up, and slosh it also.
The solvent will probably run out the hole for the pipe to the carburetor when upside down with solvent in the air cleaner. Cover it first with some duct tape, or a plug of some kind, will help. Remove the tape, or plug, when done cleaning.
Clean out the pipe through the center of it also, like the manual says.
Usually the original style cap on top of the pipe is made so it will tighten if you hit it lightly, one hit, with a rubber hammer, when it is in position.
Without hitting it, the cap is sitting there loose.
Below is the 1949 Cub owner's manual, if you don't have it. The experts on here recommend reading it, it has lots of info about operation, maintenance, and lubrication. There is a table of contents on page 1.
It has pics of how the Cub was originally.
The recommendation for using motor oil in the Touch Control was changed later, to use Case IH Hy - Tran fluid, Jim Becker has said.
http://farmallcub.com/rudi_cub/www.clea ... index.html