I've got a 75 HP Mercury on a boat I just bought used and put in the water for the first time today. Started and ran great all morning and afternoon. On the way back to the ramp late this afternoon, the engine lost power. It wouldn't climb above about 2200 RPM's. If I put it in neutral and gave it gas, the engine would run normal on the RPM's. When I put it back in gear - still wouldn't climb above about 2200.

The boat had about a 1/4 of a tank of gas when I bought it. Mercury said it could be old gas that affected the carbs. As far as I could tell there weren't any problems with the oil or overheating. Any ideas, thoughts, suggestions?

THANKS!

bad gas, or fouled plug/plugs.  My motor did that once, changed the plugs and ran like a top.

Thanks!

what year is the motor

It is a 1994.

Not much on them black motors but most Merc's have a high speed and low speed winding in the stator.  sounds like the high speed side of the stator might be bad.  I wouldn't jump up and do buy one without test it though.