So I got into the water and my motor wouldn't go down. I realized that this horizontal rod was sticking out. It normally doesn't stick out. I don't have pictures of it sticking out. I wish I did. You can see the vertical rod that makes the motor go up and down. This is the horizontal rod that connects to it inside the motor.

You can see the outer end of the rod.

My only guess is that I has the motor too high when backing up the trailer and boat and it has almost no weight on the motor then. I am guessing the rod shook out then.

Well, I put the motor all the way up and was able to tap the rod back into place.

What you are referring to is normally called a clevis pin. I would find a parts schematic or have the dealer check, I think you will find there's suppose to be a lock ring of some sort on it to keep it from being able to back out. If the there is a shallow grove around the small end, you can bet there is. If it has a hole through the end of it, it's should have a cottor pin through it. May even have a set screw, but there should be some type of locking device to keep it from backing out

Don't do much with black motors so can't give you any better info than that.

Pretty sure that would be catastrophic if that pin made it all the way out. You have definitely lost a locking clip somewhere. I would not use it until it's fixed.

I figure something goes in that hole. But that's a big hole.

The hole in your pic may have been for a grease fitting. Find a parts schematic,

http://www.boats.net/parts/search/Merc/parts.html

 

this site has microfiche. 

http://www.boats.net/parts/search/Merc/parts.html

 

this site has microfiche. 

 

 

Found out it is the Trilobe pin. I guess mine might have been missing for awhile but never knew it. I got a new one and back up one for $1.50 each. So I should be good. Thanks for the help.