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On a 2 HP or 300 HP motor.-----I am guessing it is for the tell tale or water pressure gauge.----More pictures to show where it is on the motor ?----Model # of the motor ?
looks like an early V4 looper with the pressure regulator on the starboard side. if we had a pic of the whole thing i assume someone was attempting to bypass that contraption, but it would shoot water out of that port if not plugged while running.