On August 24, 2001, about 0100 eastern daylight time, a Cessna 150J, N5591G, was substantially damaged during a forced landing after takeoff from the Barnstable Municipal Airport (HYA), Hyannis, Massachusetts. The certificated private pilot and passenger/owner were not injured. Visual meteorological conditions prevailed and no flight plan was filed for the personal flight conducted under 14 CFR Part 91. In a telephone interview, the pilot said that he and the passenger were employees at HYA. On the day of the accident, they completed their shifts around midnight, and then decided to practice touch-and-gos at the airport. The pilot performed a preflight inspection of the airplane and drained fuel samples from both wing sumps, and the fuselage sump drain. The pilot observed about 1/4-inch of water, in a 4-inch sample of fuel taken from the right wing sump. The pilot stated that he did not drain the fuel again to determine if the water was out of the tank. The left drain sample and fuselage drain sample did not contain any water. The pilot then taxied the airplane to runway 15 and performed an engine run-up inspection. After takeoff, the airplane obtained an altitude of 300 feet when the engine "stopped completely." The pilot attempted a 90-degree turn back to the runway, and when he realized he would not make it, he "stalled the airplane into the trees." Additionally, the pilot stated that he had observed corrosion on the right wing fuel cap about a month prior to the accident. He informed the owner of the corrosion; however the fuel tank cap was not replaced. The airplane was examined by a Federal Aviation Administration (FAA) inspector. According to the inspector, both wings and the fuselage exhibited substantial damage. Additionally, corrosion was noted on the right wing fuel cap, and inside the right fuel tank. The carburetor was disassembled and the bowl was "about 1/3 full of water," and contaminated by a "brownish substance." Thumb compression and valve train continuity was confirmed to all cylinders by manual rotation of the propeller. The FAA inspector reported that the last annual inspection was performed on the airplane in September 2000. An employee at HYA stated that the airplane was last fueled on July 27, 2001, with 16.7 gallons. According to the employee, "a significant amount of rain" had fallen in the area since then. Weather reported at HYA, at 1256, included winds from 270 degrees at 11 knots, a scattered cloud layer at 9,500 feet, a broken cloud layer at 12,000 feet, visibility 5 miles, temperature 22 degrees, dew point 21 degrees, and altimeter 29.93 in Hg. The pilot reported 650 hours of total flight experience, of which 250 hours were in make and model.