I have come across a nice addtion for your 300 pound, 75 year old boat.  A
newer, more powerful outboard motor to go along with it.  A 150HP Evinrude.
I was able to get it at a discounted rate, see to it that you put Lt.
Shabbaz in the front of the boat, along with two manhole covers so the
weight of the motor doesn't cause the boat to flip over, that would be
unfortunate.  Of course, the boat could still snap in half, due to the
weight of the motor but you can't have everything.

Any rate, with such a large motor you should be able to reach speeds of 50
knots easily, just make sure the holes are plugged up so you don't take on
water.  Happy sailing!  Oh, the motor was around 6,000 dollars.  You could
probably write it off though.

http://www.portphillipboatingcentre.com.au/images/product_images/evinrude%20150.jpg