Sheridan Blue streak question

Have a 1975 .20 blue streak. It has a particular quirk happing to it. Release the pump arm to pump it and the pump arm releases (Returns to open pump location) like it is spring loaded. Pump it 3 time, 5 even 10 times pressure will not build past what the first pump charged. Anyone have this happen to them and know what is going on/

trim
 
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Have a 1975 .20 blue streak. It has a particular quirk happing to it. Release the pump arm to pump it and the pump arm releases (Returns to open pump location) like it is spring loaded. Pump it 3 time, 5 even 10 times pressure will not build past what the first pump charged. Anyone have this happen to them and know what is going on/

trim
Leaking checkvalve
 
Have a 1975 .20 blue streak. It has a particular quirk happing to it. Release the pump arm to pump it and the pump arm releases (Returns to open pump location) like it is spring loaded. Pump it 3 time, 5 even 10 times pressure will not build past what the first pump charged. Anyone have this happen to them and know what is going on/

trim
You can't hurt anything to try cleening and degreasing it first.
I use a small amout of foaming, spray cleaning degreasing agent into the air hole, pumping and shooting it through the valves. I've had success with that method a few times.
Don't over do it! It is a liquid and won't compress! Small amouts and patience...
If it works relube the pump cup with a little silicone oil only, otherwise it will be stiff and hard to pump.