On November 18, 1995, at 1100 eastern standard time, a Waco ASO, N950E, was substantially damaged following a collision with the terrain, while maneuvering for an emergency landing at the Ridgeland Municipal Airport in Ridgeland, South Carolina. Neither the commercial pilot nor his passenger were injured in the accident. The flight was being conducted under the provisions of 14 CFR Part 91 by the pilot. Visual meteorological conditions existed at the time of the accident, and no flight plan had been filed for the local, personal flight. According to the pilot, shortly after liftoff the engine lost power. The pilot attempted a course reversal to the airport. As he maneuvered the airplane for the emergency landing, it collided with runway 3, skidded down a 30 foot embankment, and nosed over. Post crash engine examination verified that the engine would not run. It was discovered that the spark being produced by the ignition system was weak.