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I've got a '66 F100 w/240 engine. Several months ago it began stalling while driving. I replaced the points, condenser, and coil with a new Pertronics unit with no change. Replaced the fuel pump and filter, no change. Then I found a wad of paper in the fuel tank (don't ask how, cause it sure beats me!). Removed and clean the tank and cleaned the fuel lines. The problem got worse. I replaced the carb with a rebuilt one just in case some trash was sucked into the carb. The engine will not start now.
It seems like it is starving for fuel. It will fire for a moment, but will not run. My next step is to open up the carb to see if the float and valve are stuck, then I'm gonna start all over again to make sure there is no other blockages. Got plenty of fuel pressure at the carb too.
I'd check the timing (again) if I could get it started
Have you tried putting just a little gas into the carb? if it turns on when you do that it may be the carb. Have someone crank the engine while you dribble gas in with a cup or turkey baster or something.
Pull the fuel line off the carb, take off the coil wire, put the fuel line you pulled off the carb into a clear bottle like a gatorade bottle and crank the motor to see that it is pumping. If it is pumping good than either, like you said, the floats are stuck or the jets are clogged. The fuel pickup could be clogged also.
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