It should be a Tecumseh engine BTW. Remove the air filter to see if it is saturated as well. Ground the spark plug wire and give it a few more pulls w/ the cover off. Once the oil level is reset and the spark plug is back in, a burst of carb spray in the carb throat will get it going quicker. It will likely smoke nicely for a few minutes.

I think Tom forgot to mention -
Remove the spark plug first, before giving it a few pulls to blow all the crud out of the combustion chamber.

Thanks Tom I will give that a try Monday. Yes this is a Tecumseh engine.
As a check I am to
1. remove the spark plug. (Thanks Bill)
2. Ground the wire.
3. pull another 3 - 5 times.
4. Spray carb cleaner into the carb throat (where is that?)
5. Try to start it?

You might want to pull it more times. If it keeps spitting out gunk/oil, keep pulling.

Remove air cleaner and the carb opening is obvious.

IF the air cleaner has ANY oil contamination, replace.

A restricted AC may allow the engine to run fine when NOT under load.
Get into the tall grass where the governor opens the throttle plate wide and the engine NEEDS the air, is where the lack of power shows up.