[AT] Fairbanks Morse FM single cylinder type J Problems?

[William Powell]

Hello,

I just purchased a Graham Paige Rototiller at an auction.... 

It is well used. I am trying to get it running. 

It is a two cycle engine. I cleaned the carb and fixed the recoil starter. 

I pull it and every once in a while it fire, maybe up to 10 times max. If I
keep pulling choke in or out, it won't start. The plug gets wet. 

Then, it won't start for a while. If I come back to it after about 5 minutes
it will pop a few times again.

I took the Fairbanks Morse type J magneto apart and found that there was
some black goo at the bottom...

Do you think the coil failed and melted? I'm leaning toward the magneto as
the problem... 

Any suggestions welcome. 

Regards,

Will Powell