Dave: The friction pads are in the pivot of the lever itself, they are spring loaded and designed to keep the lever where you put it.
The big spring you refer to is a compression lift assist for fast hitch. The bolt you refer to that goes in the end of the spring is not a tightening device but must be adjusted so the head hits the brace as hitch reaches full height or rochshaft is in it's forward position. When the hitch is all the way down that bolt will stick out about 4". It does two functions, keeps the compression spring straight and acts as limiter so hitch cant force rockshaft beyond it's forward limit. If that big bolt in the end of the big spring is out of adjustment, particularly if it's screwed in to far and not allowing rockshaft to go it's limit, this will create full time demand on hydraulic system when you try and raise the hitch to full height.
You really need a manual for this tractor, original IH operator's manual is important, as well as a manual covering the hitch. If you had the manual, you questions on here would become much clearer for us. Some of our problems with your threads are caused by your use of terminology.
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