How to adjust the the Paragon SA0V transmission

Remove the 4 bolts on the lid of the transmission. Lift the lid to remove it being careful not to damage the gasket.

Forward gear adjustment:

With the gear in neutral, spin the adjusting collar (with the notches) until you see a bolt. You can use a screwdriver to turn it. Loosen the bolt so you can spin the adjusting collar. Don’t drop it in the oil! Turn the adjusting collar clockwise so that you can re-tighten the bolt one or two notches over.

Replace the lid and run the engine. Does it go into forward gear? Check that the shaft stops spinning when the gear is in neutral and that it spins when in forward. If it spins while it is in neutral, you’ve adjusted it too much, or maybe your clutch plates are worn.

Mine had a different bolt in it. I found the original in the bottom of the oil.

This is presumably the original bolt.

Reverse gear adjustment:

With the lid removed, you’ll see a hollow nut with a clip around it on the top left. To tighten, turn it clockwise with a box wrench one or two notches, replace the lid, run the engine and then test it. Tightening it will bring reverse closer to neutral, so you won’t have to pull as hard

Official instructions:

Adjustments

The forward drive is obtained by means of a multiple disc clutch. The locking or clamping of these discs is brought about by the pressure produced by the outward movement of the fingers when the operating lever is thrown into the forward position. The ends of these fingers lock into the groove at the front end of the cone. On the forward drive, the whole reverse gear is locked together as a solid coupling. Unless the pressure on these discs is great enough to lock the whole gear together under full load, the clutch will slip and heat, and score and destroy the discs.
The reverse drive is obtained by clamping the brake band around the outside drum or case which carries the pinion gears. The reverse motion is obtained by driving through the gears. Unless this band is clamped tight enough to keep this gear cage from revolving, it will slip in the reverse position and score the contact surfaces of the drum and brake band.
In the neutral position, both the discs and the brake band are free and the gears run idle.

Lubrication

Use SAE 30 viscosity nonfoaming lubricating oil of any reliable make. Good oil will save you money. Fill the housing ½ full or up to the tail shaft. Oil should be completely changed every 200 hours of operation and gear and housing thoroughly washed out.

Adjustment for the Forward Drive

If the gear slips in the forward drive, back out the lockscrew No. 76 until the end of it is clear of the notch in the adjusting collar No. 28. Then turn the adjusting collar No. 28 to the right until the lock screw No. 76 is opposite one of the notches in the adjusting collar No. 28. Then tighten up the lock screw No. 76 and be sure that the end of screw enters the notch in the adjusting collar No. 28. Repeat this procedure until the reverse gear holds on the forward drive. An adjustment of one or two holes is usually sufficient.

Adjustment For The Reverse Drive

Throw the lever into the reverse position. Then tighten up the adjusting bolt No. 330 until the brake band clamps or grips the gear drum No. I and holds it from revolving. It is well to screw up this adjusting bolt No. 330 a little tighter than is necessary. This will compensate for any wear on the brake band. The lock wire holds the adjusting bolt nut and keeps it from loosening.