Alpha One Welch Plug in Upper Housing

[76SeaRay]

On the Starboard Side of my upper housing of my Alpha One is a plug. (1985 MR drive SN 6908762). The parts diagram calls out a pipe fitting and a "Welch" plug. What is this use for? I am planning to bead blast the unit and re-paint. Should I remove the plug and get a new one?

I should mention I am rebuilding the drive so would there be anything under the plug that needs cleaning?

 

[Bondo]

Ayuh,..... That hole is used only durin' the manufacturin' process, 'n is then sealed, water tight, with the welch plug,.....

If it leaks, I believe it fills the shift cavity with water,....

 

[76SeaRay]

Hmmmm, I wonder if it should be replaced with it being over 35 years old?