Purchased a '78 marine trader 34'dc recently. Great boat but has issues like anything with age. Hauled onto the hard to identify leak in floor of engine room. Found a poor repair made to the cutlass bearing assembly-cutlass bearing housing and the threaded plate that attaches to the stern tube. Apparently the fiberglass tube was replaced with a stainless tube, access holes cut in the side of the keel for insertion of mounting studs, the assembly bedded with lots of silicon caulk and lock-nutted down to the keel. I have not reopened the access holes in the keel to see what type of holding agent/fastener was used but it failed miserably. The entire assembly was hand loose on inspection. Water has gotten into the keel and I feel the pressure drove the water up through a weak spot into the engine room. I have taken the bearing housing off and unscrewed the mount plate from the stern tube. Had to cut off the studs to get the plate screwed off. Drilled some holes into the keel to check for water migration. And now... welcome anyone with info to help me repair this proper. *