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The V-4 model 50 HP had a 2 barrel downdraft carburetor.

See post #5 ----Marketing experiment.

That transom looks to be rotten to the core.-------I would do a good inspection on it.

No-----It just restricts amount of throttle opening.----And an educated guess on the HP at each setting.

Maybe the flexplate is broken.-----Post pictures or video in an easy for me format.

There is a guy in Edmonton.----All over kijiji with used outboard motors and parts.

Robin's Marine---Kamloops

I would say the crank is broken.

Put an ad on Kijiji-----Wanted 4 cylinder Chrysler outboard for parts.-----Nothing to lose.----There is a dealer in Kamloops that might have parts.

Perhaps you have a broken crankshaft.

Your location?

I have done----Silver solder.---Alumium brazing.---Brazing with bronze.-Aluminum TIG welding.----Stainless welding.----Stick welding of course.-----I do not think welding this engine block is a good idea

Coils do not fail sitting for a week.

The repair on this engine block is not the same procedure as welding a bracket onto a manure spreader !

Your location in Canada ?

A well designed / sized bronze bushing might be just as good or better than a needle bearing !

It would not push into the drip chamber.

I would not do any welding on that.----Find a used block.

Does not look like there a place for a center board or swing keel.----Cabin sole look like fixed keel to me.----And I have sailed on many different boats.----From a Laser to 62 foot ( 55,000 lb ) go anywhere in the world type of boat.

I would say the voltage should rise right away.----It does on other motor brands.----Have you considered getting a pair of different motors.----Seems there are a lot of issues.