Re: 1957 Mercury Mark 6
Well, not quite. The waterpump is still in the lower unit on the Mark 6. It is a neutral clutch motor, not an automatic transmission motor.
Personally, I like the little buggers. They're quite a powerhouse for the size and on a light boat can make close to 20mph. If it turns over and nothing is broken, it might be a fun project to get it back among the living. Get familiar with oldmercs.com as they are your best source for parts.
If the lower unit isn't cracked near the propshaft, it is probably worth a few bucks right there, as they are often broken due to poor drainage for storage. There's a tiny drain hold on the bottom of the bullet, toward the rear. The holes above it are for the water intake, but the bottom one is the drain for the cooling system. If it is plugged, water will sit in that cavity and pop the rear of the housing when it freezes.
- Scott