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Timing that engine is dirt simple and needs no tools. Assuming the block pointer has not been moved: Mark the wires 1 to 4 from top to bottom. Remove and ground all four plugs and wires. Put the control in wide open throttle. Now, with the ignition switch on slowly turn the flywheel until #1 (top) plug sparks. It should spark just as the 36 degree mark on the flywheel is at the fourth line to the left of the long line on the pointer. This will correspond to 32 degrees before top dead center. If it sparks to the right of this line, timing is too far advanced and set the link until it is back sparking at 32. If it sparks slightly to the left of the fourth small line, this would correspond to 30 degrees and that is OK.
This is the block pointer and distributor link. This particular pointer has only one line and there is a 32 degree mark on the flywheel. Turning the distributor ling so the plastic blocks come closer together retards timing. Spreading them apart advances timing.