Re: 1972 mercury 50hp doesnt pump water?
It more than likely means you have two problems. The lower unit needs to be resealed. Drive shaft, shift shaft, housing and propeller shaft. Those seals keep water out and oil in. They have nothing to do with the engine not getting cooling water. You said you pulled the foot and the water pump impeller looked good. When you go that far it is really silly not to replace the entire pump assembly, especially since this is a new to you motor. At least you know that part of the system is functioning. Are you sure the key is in the shaft and that the shaft isn't just spinning inside the impeller hub? As was mentioned, the grommets on the water tubes may be gone or the things are misaligned when you put it together. Also, running on a hose & muffs you are "forcing" water up the system so even a very weak or damaged impeller may flow water. That's not a very meaningful test.