Re: 1962 sea king question
OK, it sure isn't. That's a Gale-built outboard.
When you start it, are you supposed to turn the knob and hold it in a position, then let it go? If so, your carburetor has a little plunger that pushes the float down when you turn the knob, essentially flooding the engine a little. There'll be a little lever on the back side of the knob that does that.
It's an alternative to a choke. Both ways provide a rich mixture to help start a cold engine. Most two-stroke motorcycles from the 50s and 60s used a similar system, but there was a button on the carb's float chamber that you'd hold down until you saw some gas come out.
Nothing wrong with the flooding system at all, unless you do it too much or do it when the engine's warm. It makes for a simpler carburetor (read cheaper), too.
For future reference, it's always best to include a model number each time you start a new thread on this forum. It saves time for everyone.
Now, are you having trouble with this engine?