This motor is on a 16' stick steering bass boat, circa early 70's. I put her in the water for the first time last week and it ran great for about 10 minutes. Ran at low speed for about 3-5 minutes to clear no wake zone and then at full or close to full throttle from then on (smooth, quiet, I'm lovin it!). After a few more minutes, it quit as if it ran out of fuel. A rapid RPM drop until quit, not a sudden quit as if loss of ignition. When I tried to restart, there was gas coming from a small (about 5/16 inch) hole about 3/4 an inch to the 4 o'clock direction from the slow speed needle valve. I trolled in and went home. When I pump the primer bulb gas comes out of this hole. I took the carb apart and find that there seems to be a path (hole/tunnel) from the bottom of the bowl up through the side of the bowl and eventually to the above described hole on the front. When I pump the primer bulb I don't get a positive back pressure. I get some back pressure before gas starts coming out but not a good firm feel like it should be. What is this hole for? Is this a vent? Is there a damaged check valve in this path? Or what have I done now?