Dear Men,
Thanks to all who replied. The problem is now resolved. I was hoping a complete teardown would not be needed. It turned out that the engine owner ran the engine low on oil at some point. Both the piston and cylinder were scuffed, and metal fragments were jammed in the piston grooves, preventing the rings from expanding outwardly.
Honing the cylinder lightly and filing the high spots on the piston was a less than ideal, yet low buck solution. I installed new rings ( $21) and put 'er back together. It started on the first pull. A compression check revealed 90 plus psi. I cut the back yard and the mower ran well. No oil burning was evident, but I'll keep a close watch on that. Thanks for your forum advice.