Re: 1961 Johnson Sea Horse 75hp V4SL-13 adjusting and setting points
Well there are actually two methods. I'll confine my comments to method # 1 which is simpler and just as good if you have a good "touch".
There is one screw holding the points to the breaker plate. There is a second screw in a slotted hole in the points assy. That screw is an eccentric screw..off center head. As you turn the eccentric screw it tends to open and/or close the points gap.
So, bottom line is get everything installed and screwed down. Rotate shaft till points are open as far as they will go. Turn the eccentric screw to close the points (or nearly so). Then turn the eccentric screw the opposite way to open the points until a .020" feeler guage will just pass through the gap. This is where "touch" comes in. You want the guage to have just a tiny bit of drag, not loose in there, nor forcing the gap wider with the guage.
Repeat with the other set.
BTW, you do NOT have to loosen the hold-down screw to move the points with the eccentric.....if you have the brass washer under the screwhead like you are supposed to.