Display Single Post On Homepage

I recently upgraded to 2.6. Before the upgraded I had a single post on the home page. After the upgrade all my posts appear on the homepage and that doesn’t change even if I change the settings on the backend to show a single post.

https://www.bingwalker.com

Here is index.php:

<?php get_header(); ?>
<!-- begin post -->   

<?php 	if (! empty($display_stats) ) { 		get_stats(1); 		echo "<br />"; 	} 	else if (($posts & empty($display_stats)) ) : foreach ($posts as $post) : start_wp(); ?>    

<div class="entry">      

<?php global $post, $tableposts;
$previous = @$wpdb->get_var("SELECT ID FROM $tableposts WHERE post_date < '$post->post_date' AND post_status = 'publish' ORDER BY post_date DESC LIMIT 1, 1");
if ($previous) {
$link = get_permalink($previous);
echo '<a href="' . $link . '" title="Previous">' . $post->post_content . '</a>
';
} else {
the_content('[More photos]');
} ?>

</div>

<div class="posted">  

Click Image For Previous | <a href="<?php the_permalink() ?>" title="Permalink"><?php the_time('M j, \'y') ?></a> | <?php the_category(', '); ?>  <?php previous_posts_link('| Next &raquo;') ?> | <?php next_post('%', ' Next', 'no'); ?>   

</div>
<br /> 

<br />  

<!-- <?php trackback_rdf(); ?> -->    

<?php endforeach; else: ?> 

<center>
<img id="image237" src="https://www.bingwalker.com/wp/wp-content/uploads/sen_in_bookstore.jpg" alt="sen_in_bookstore.jpg" />
</center>

<?php endif; ?>    

<!-- end post -->      

<?php include("menu.php"); ?>
</div>

<?php get_footer(); ?>