Vessel #1 had just towed another vessel to a marina. As vessel #1 departed, the stern began to settle. The operator of vessel #1 then stopped the vessel to see what was wrong.  He checked the engine compartment and observed that the water up to the sparkplugs and then the vessel sank in less than one minute.  An ispection of the vessel, when pulled from the water, revealed no water leaking out of the hull.  It is possible that an intake or exhaust hose was leaking while engine was running.
Toms River                    