The original bolts would have been 1/4" grade 8 fine thread. They have been changed and probably stripped or cross threaded. This could be a battle, good luck.
The chain is probably rusted and can easily be replaced (#50 roller chain). Most worn or rusted parts can easily be replaced except the clutch. Do you have the Salsbury 400 clutch or the Bonham 'Climbaway' clutch. The model B Tote Gote was produced with either.
I had these old photos on file. The 3hp Briggs with Deepco clutch system is most likely original. One photo has a later model Briggs. A very interesting frame design. The gearbox look like a Holton (if my memory serves me right).
Yes, the yellow Packmule does look very original. If you need to replace the clutch, look at the Max Torque V-belt clutch: https://www.OldMiniBikes.com/max-torque-v-belt-clutch-5-8-.html
The right nozzle will make it run better. Using the right tap to clean the threads and make the nozzle seat better may prevent leaking. Leak is most likely the needle and seat.
It is likely the carb has been rebuilt before. Most rebuild kits available today send you a nozzle that is meant to run leaner than the old engines for emissions. Try a Briggs 23222 nozzle. I was surprised at the difference.
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