M&S Grandfather clock chimes constantly

by Jim Ritter
(Cocord, CA)

The clock will not chime at all (typically chimes on the hour or half hour), but when I wind the clock and pull the weights all the way to the top, the clock will chime continuously (even if the pendulum is not swinging). What's the matter with it?

Also, there's a chord on the right hand side that pulls a lever down. When I do so, the chime stops but as soon as I let go the chime starts up. What is the chord for?