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The piston rings are far from a great seal for something as light as gasoline. Though the intake valve should do a good job of sealing IF it is closed.
Thanks, all, it sounds as simple as I suspect. Also note that in my OP I state there IS a shutoff valve, I just didn't use it, and the PO didn't point it out. I have a push-mower I use for trimming, and a logsplitter, BOTH with vertical-shaft B&S engines and neither one has a shutoff in the fuel line and each are over 10 yrs old and I've never encountered this. Thus my inattention to the DR mower engine. They're both probably leaking into their sumps as I write this.I wonder what kind of damage I did to the engine trying to crank it to get it to fire (which it did, a few times).