Re: Trouble raising and lowering outdrive.
that's what you need to do - follow the wires back from your motor - 40 year old wires need inspecting.
Look for heavy 10 ga. green and a heavy blue wires...
(green grass=down, blue sky=up)
it ain't likely an issue with the switch - the switch is on the low current side of the 2 relays (18 ga. wires same colour code).
remove all the heavy gauge terminals from the 2 relays - file the terminals shiny on both sides - then file the side of the nut - most of the corrosion issues I see are with the nut.
Some boats - not sure about 1969, had 2 50A fuses in the supply to the solenoids- they like to corrode on the barrel ends - clean them up with some steel wool if you have those fuses..
This schematic should be close:
http://hhscott.com/evinrude/images/wiring/73_OMC_V8_all_big.jpg
after you fix up the wiring - you might want to grease the trunnion bearings where the outdrive pivots -if you haven't done it twice a season like the book says, the grease might be all hard in there and you might need to disassemble to clean
Also check the oil in the tilt clutch housing- and make sure the cover has at least 1 gasket-shim - i always put 2 - see lots of boats with just sealant because someone thought it was a gasket to keep the oil in - it's not - it provides clearance for the big brass gear in there.