KF5 motor problems HELP Merc Super 5

[PJChoate]

Mercury "Super" 5

Recently dove into my first motor. It was my grandfathers which I was told was rebuilt, run, and then never used. Also happened to be my fathers as a kid.

So here's the scoop. Took it hope put some gas in it and hoped for it to fire right up. Wishful thinking. Couldn't get any ignition at all.

-Checked my spark plugs and have a visual spark.
-The carb seemed to just dump out fuel so I adjusted both high and low speed valves every position possible.
-Took the carb apart and cleaned out. No gunk but the float had disintegrated a little leaving a little residue.
-Sprayed a little carb starter fluid in it and got it to fire once maybe but I know I had some combustion due to a little smoke.

Not sure where to go from here. Could it be a compression problem? Is there something wrong with my carb since fuel dripps out even though I have adjusted the valves from snug to out with minor 1/4 turns?

Any help would do. No idea where to go with this. This has turned into a first project you could say. Much appreciation. Thanks.

 

[racerone]

Does spark jump a gap of 1/4" , yes or no ?

 

[PJChoate]

Does spark jump a gap of 1/4" , yes or no ?

I'll have to check that. They were where they were set previously.

 

[racerone]

THe question is very clear.----Does spark jump a gap of 1/4", yes or no.------Sparkplugs are not used to do that test.

 

[merc850]

The hi/lo speed needles won't stop gas from leaking out of the carb they're for metering fuel while the motor is running; set them both at 1 1/4 turns out from seated. are you using the choke?
It sounds like the carb is still dirty so take it off and clean it. Post a pic of the gas dripping for more clarity.

 

[60sboater]

You probably need a new float and maybe the needle and seat which the float operates. A heavy float will cause fuel to overflow the bowl and leak out.