The mag against the gearshift lockout lever is not adjustable.

As for the rest, it is a tad complex and must do it all in order.

1. They are usually out of whack, so first loosen the setscrew on the fuel saver rod and slide the barrel forward out of the way.

2. Adjust the carb throttle pickup. Look to the left of the rubber roller. See that pointer sticking up from the intake manifold? As you slowly advance the throttle control, the carb throttle shaft should just be ready to start opening when the mark on the brass cam aligns with that pointer (not the roller). Cam slides in or out to adjust.

3. Now adjust the fuel saver rod. With shift in forward gear, open throttle control until the stop arm on the mag plate bangs up against the projection on top of the cylinder block. At that point, contact should be made with the barrel/setscrew on the fuel saver rod. Slide it so that happens and tighten the setscrew. With that done, further movement of the throttle control toward fast will kick the carburetor throttle shaft wide open.

At about 11:00 in this picture is a notched brass limiter stop. When the shifter is in neutral, the first notch (actually the leading end) will hit the interlock, preventing further movement. When in reverse, the second notch hits. In forward, none hit.

Note: Actually this is a 25hp (no fuel saver rod), but it should give you the concept

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