On October 30, 2017, about 1150 Pacific daylight time, a Cessna 140, N72339, was substantially damaged when it was involved in an accident near Port Townsend, Washington. The pilot sustained minor injuries. The airplane was operated as a Title 14 Code of Federal Regulations Part 91 personal flight. The pilot reported that he had just purchased the airplane two days prior to the accident and flew it both days with no anomalies noted. On the morning of the accident flight, during the preflight inspection, the pilot performed a walk-around inspection according to the owner's manual. About 12 gallons of fuel was on board; 7 gallons in the left tank and 5 gallons in the right tank. The fuel capacity of the airplane is 22 gallons, with 12.5 gallons in each tank. The pilot further stated that the fuel selector was in the right tank position for takeoff and for all circuits in the traffic pattern while practicing touch-and-go landings. After touching down during the 3rd landing and prior to the start of the 4th takeoff roll, the pilot opined that the carburetor heat was pushed into the OFF position. He then retracted the flaps, applied full power, and started a best rate of climb (Vy). About 300 ft above ground level the engine suddenly stopped developing power, and with very little time to restore power he pitched the nose down slightly, then switched the fuel selector to the left tank position, but at such a low altitude he was unable to restart the engine. He then switched back to the right fuel tank, but to no avail; he could not restart the engine. He then performed a forced landing, during which the airplane impacted a stand of trees before coming to rest on its left side. The left wing and fuselage were substantially damaged. Prior to wreckage recovery, it was revealed that there was no fuel in the left fuel tank, as it had been breached during the accident sequence. About 1 ½ gallons of aviation fuel was recovered from the right fuel tank, which had not been breached. The airplane's Operation Manual does not specify an unusable fuel amount. However, it does state under Section 1 – Operating Check List, Before Starting the Engine, "Set fuel tank selector to fullest tank. (Do not take off on less than ¼ tank.)" One-quarter tank equates to 3.125 gallons of fuel. Postaccident examination of the engine and airframe revealed no evidence of a mechanical failure or malfunction that would have precluded normal operation.