I just purchased a boat that came with a 1963 Johnson 40hp seahorse motor. I tried to start it the other day and here's what happened: I have the motor on a stand and the lower end unit submerged in a large container of water. I connected the gas tank and primed the bulb until tight. I hooked up the electrical to a car battery for temporary use. I turned the key and the engine cranked over but would not start. After trying again it cranked over and started and sounded good, the exhaust was stirring up the water and it sounded smooth, but I did not see any water come out from the spout. It stayed on about 10 seconds and stopped. Upon trying to restart it, the engine will crank a bit then a big bang out of the exhaust with a huge water splash is what happens now, along with a cloud of what seems to be clear/white smoke or steam rising out of the water in the container. The water had quite a bit of black oil in there also which did not appear to be leaking from the prop case but from the exhaust. I checked the spark which seems ok and the fuel seems to be getting to the engine also, but I am not 100% sure of that. This motor probably had been sitting for a long time before I got it but I find it strange that it would run smooth for a bit and then that happens, instead of it not starting at all to begin with.<br /><br />Any Ideas of what it may be or where to start looking would be greatly appreciated. I did just buy the manual for it and it does not seem to have a general troubleshoting section where I can get any ideas for this problem. <br /><br />Thank You