This is a vintage Veco .19 model airplane engine.  It is a vintage R/C version with a carb and some sort of valve in the exhause stack which probably hooked to the carb at one time somehow.  I do not know enough about these old R/C engines to give any more info than that.  It has nice compression and apparently has ball bearings in the front end. There is no damage anywhere and all the screws look untouched.  This is a real nice engine and should be a great runner.