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Check out nymarine.com for your paint and decals. Keep us updated when you get this puppy fixed up. I just picked up a 1956 QD-17 last weekend!!
 
Good find. I had a 1953 3 hp Evinrude that would idle so low you would be tempted to restart it. One thing I think I remember is those older motors used a different mixture of oil to gas, maybe 24:1. Not sure, maybe some other old geezers can advise you.
 
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