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 | First thing I would do is take the spark plug(s) out and put a table spoon of oil down the cylinder(s).  Without inserting the plug, pull the starter rope a few times slowly, just to coat the surface a little and free things up. 
 I would also buy new plugs for it.
 
 Then, check the fuel pump screen to make sure it is not varnished or clogged in any way.
 
 With that age of motor, I would replace all the fuel lines...those lines are old and will not hold up to updated gas formulations...might get some deterioration inside the old hoses which will eventually clog the carb.
 
 From there, fresh gas and give her a go.
 
 I would maybe look at rebuilding the carb as well.  you may have leaking problems due to dry gaskets and potentially a stuck float bowl too...
 
 It'll definitely be nice to hear a motor of that vintage purr away...
 
 Good luck!!
 Steve
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