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Can someone tell me what is the open tank with the drain, just under where the motor bolts onto the transom called and what purpose does it serve.
Thanks so much.


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That is the splashwell drain. You do not have to use a drain plug unless you have a particular reason.
https://www.whalercentral.com/images/...s/1973.jpg

Th other one is a cockpit drain and should be installed unless there is a wave taken overboard, etc. and then removed temporarily.

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Thanks so much,someone told me it was a bait tank or cooler.

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Do you need the bottom drain plug in,we are almost done a total restoration on this 1980 sport.Putting in the water in a couple of weeks we have never rode in it yet.

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You do not need it in. You probably want it in unless draining water or you like wet feet.