roebuck, like pretty much everyone else I am not prepared to get involved with what I considered a nasty engine from a defunct manufacturer. (I won't get involved with Victa 2 strokes either, for similar reasons.) However the engine you have was a Tecumseh VLV50, made to a unique specification for Victa, and not sold to the public. The specification, equivalent to Briggs' Type, was 500032B. Here are the parts lists for all of the VLV50 types that were sold in the US:
http://www.barrettsmallengine.com/tecumseh/vlv50.htmlObviously the Victa version is not included in the list. Most likely any part you require will turn up on one of the listed versions though, if you can figure out which one it was. (There are similar problems getting parts for Kirby Lauson engines, for the same reasons.) Only some parts are available now for Tecumseh engines, and those are not always easy to get.
Here is the full workshop manual for the VLV series:
http://ebookbrowse.com/tecumseh-ser...v66-vlv126-engines-695578-pdf-d319510378If this were a full restoration program, you could decode the parts lists to figure out what the Victa variations were, see how to repair it from the workshop manual, pull the whole thing down, and rebuild it into an as-new engine. Making running repairs to it though, is difficult without being rewarding, because when you finish you still have a lemon on your hands, and it will be a problem to fix again next time it gives trouble.