Re: 1949 5hp Montgomery Ward 94GG9014A
Montgomery Ward sold it, Fabuloso, but the brand name is Sea King. It was made by the Gale division of OMC and is cousin to Johnsons and Evinrudes of that period.
5HP JohnnyRudes of that period use a 16:1 or 24:1 fuel mix (I would use 16:1) and Champion J6C (replaced J6J) plugs gapped at .030. Set the points at .020".
I suppose there is some chance that the Sea King didn't use the same plugs and fuel mix as the JohnnyRudes, so take it for what it is worth.
Good luck.