Exhaust black spots

My XK120 engine is in very good condition and I have tuned the carbs to the lean end. And yet, I get black “spots” coming out of the exhaust pipe. These seem like little drops of water containing lots of soot. These come even after the engine is warmed up and idling smooth.
Do others experience anything similar? What causes this and can I do anything to eliminate it?

Fairly normal (assuming not coolant): exhausts get condensation in them that doesnt really dry up till smoking hot.

yup as said normal…often lost of water at start up…and why exhaust sytems rust out from inside, and why short runs are hard on engines as water from condensation whether in combustion or in oil pan gets everywhere until hot for a while…note white exhaust from cars started up in winter, when moisture condenses in cold air…Nick

Your post, Phillip, brought to mind this one from '09:

Your post, Phillip, brought to mind this one from '09:

[E-Type] Revved-up the engine…I’m in the doghouse!

I took my wife out for dinner last night. I was waiting for her in the car as she locked the house door. Nice dress, new shoes, looking great… I started the engine as she walked down the pathway. Choke on, ignition on, push-button start…vroom! As…
I few years ago I had pretty much the same experience multiplied by probably 3 or 4! I run Super Trapp resonators with the off road (open) end caps. A few years ago at our Concours we had at least an hour of the hardest rain that we had seen in a long time and evidently the blowing rain had collected in the ST resonators and as luck? would have it Darlene was right in the line with the exhaust when I started the engine and—I ended up taking her home to change clothes before the banquet!
Bob
889076
Plymouth, Mi.

Water and carbon dioxide are leading exhaust products for gasoline engines. Water will be visible coming out the tailpipe until the exhaust system heats up enough to only emit steam without condensation trails or drops.