Could it be that the choke is in wrong opening position?
It was wide open when I tried to start when the engine was hot.
I guess when the engine is flooded by overflow, I should not appear when I stop the engine and hold down the pedal (air filter removed). This will allow the fuel to evaporate like mentioned by T-bucket23. But what is causing it. Were cars that bad in 1955 or people just that patient back then they could wait 1 hour to let the engine cool down...LOL