Rgunnz,
I agree on the Master Cylinder, probably the piston is rust-frozen.
For what it's worth, I know you'll be going through this carefully, but note that you've got a vacuum line going nowhere from the manifold, looks like it isn't capped. That's a vacuum leak waiting to happen. It was probably for the wipers.
Also, I'm not totally sure, but I think that's a Carter W-1 carb, and GM had shifted to a Rochester carb for these by '51. Doesn't matter, I actually like the Carter better - doesn't leak gas everywhere like so many of the Rochesters, BUT GM did spec. a few more HP with the Rochester. Anyway, thought you'd like to know.
Congratulations, that's a great find! You'll have a good time.
-Michael
