On January 23, 1994, at 1320 central standard time, a Cessna 150L, N10449, operated as a rental/instructional airplane by Miller Aviation, Inc. of Brookings, South Dakota, sustained substantial damage when it nosed down during a forced landing in a snow covered field near Waubay, South Dakota. The private pilot and one passenger reported no injuries. Visual meteorological conditions prevailed for the personal flight, no flight plan was filed. The flight operated under 14 CFR Part 91, and originated from Brookings, South Dakota, approximately 1115. Both the pilot and airplane owner/operator indicated the pilot was informed the airplane was just flown, and the fuel tanks were estimated to be about "1/2 full." The pilot reported he observed fuel tanks approximately half full (about 13 gallons) during his preflight inspection of the airplane. The pilot and passenger departed without taking on additional fuel. In a telephone interview, the pilot reported he departed on the local flight and decided to make a brief stop at Ortonville, Minnesota, approximately 65 nautical miles north-northeast of Brookings. He estimated he and the passenger spent about 20 minutes on the ground at Ortonville. They departed to the west to fly over some property in the vicinity of Waubay, South Dakota before returning to Brookings. The pilot stated they were in cruise flight about 4,200 feet Mean Sea Level (MSL) when the engine began to "...sputter and cough," then quit. Restart attempts were unsuccessful, so the pilot made a MAYDAY transmission and performed a forced landing in a snow covered field. He stated the aircraft touched down on the main wheels in 2 1/2 to 3 1/2 feet of snow. The pilot reported "...the aircraft rolled about 20 to 25 feet and then sank so far into the...snow that the nose gear...collapsed." The pilot stated he and the passenger both looked at the fuel quantity gages before they exited the airplane. He reported the right fuel quantity gage indicated 1/2 tank, and the left fuel quantity gage indicated 1/4 tank of fuel. He stated he placed too much stock in the airplane owner's comment that he should have enough fuel for his intended local flight. He also indicated the incorrect indication on the fuel quantity gages misled him, and he was not attentive enough to the flight time/fuel status. The airplane was equipped with standard fuel tanks with 26 gallon capacity, of which 22.5 gallons is considered useable. Postaccident examination of the fuel tanks revealed no evidence of useable fuel. Records indicate the departure Hobbs meter reading was 360.0 hours. The Hobbs meter reading at the time of the accident was 361.8 hours. The airplane owner's manual indicates a standard (75% power) cruise fuel consumption rate of about 5.8 gallons per hour. This rate does not make allowances for increased consumption during takeoff and climb. Excerpts from the owner's manual are appended.