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Fuel oil tank and drop lever valves

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CEP
CEP Member Posts: 9
in Oil Heating
I recently saw a basement aboveground storage tank with a drop lever valve attached to the fuel oil supply pipe and was wondering if these valves are obsolete; and if so, does anyone know when were they last in use? Also, does anyone know when JL Clemmey of Mansfield, MA stopped manufacturing tanks? Thank you.

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