If it was glassed it probably leaks. Those boats are usually built with tight fitting planking so with age they can get pretty leaky. They don't stay in the water so the wood doesn't swell to seal the edges.

Most of the time the only thing you can do, other than glassing it which adds a ton of weight and traps water, is to replace the bad planks, a very time consuming process. If you do, use extreme care to remove each plank in one piece, the shape of the planks can be quite "interesting" and unexpected.

Bill H.

Before you remove any planks put an inspection lamp inside the boat on a dark night and look for gaps and cracks!

It might be a lot simpler to paint it; that was common practice back in the day. Varnishing the entire boat may be appropriate for a museum specimen but if it was a working boat it would have been painted for sure. Your pics only show the outside, if the inside wasn't glassed it can be varnished, although the ribs will make sanding a chore. Paint outside and varnish inside looks nice on a boat.