247.7 was the gasoline engine displacement from the factory. The engine has likely been rebuilt one or more times, so there could have been changes, the most common is 264 Cubes if the Thin sleeves were used to match a Super M. But larger displacements can be provided with running the piston in the cast bore, and boring the cast bore larger and even bigger pistons. Stroking is also possible, but not likely unless someone was carried away. Displacement could be taken with a fluid in the cylinder and measured for volume, but it depends on how earnest you are in determining the displacement. Jim
 
The original engine size would be 248 cubic inches, model C248.

The original engine size will be molded into the engine block, somewhere near the spark plug holes IIRC.

However, since the tractor is 60-70 years old, it's probably had the engine rebuilt. It is most likely been upgraded, and will have "oversize" pistons in it. The only way to confirm the true engine size would be to remove the head and measure the pistons.
 

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