Chris, I will have to take a look at my Detroit stationary and compare. There should be a fibre disc, about 1/2" to 3/4" thick, with a 1/4" strip of brass, imbedded in it, between the flywheel and the block, mounted on the crank. This piece of brass is grounded. The timer is made as follows: on the lower end, a clamp and mount that has an isolation block, with a brass wiper arm mounted on it that contacts the fibre disc. There is an isolated binder post attached to the wiper arm. The timer control arm is mounted to the timing lower end with 2 - 5/16" bolts. This arm is cast iron, and extends about 3" past the flywheel rim. The timer arm has a brass lever and spring mounted on a pivot, near the top end The upper end is about 1/2" off the timer arm, the other end is filed to a wedge, which lies in the valley of a brass screw, isolation mounted into the timer arm. At the other end of the isolated screw, there is a binding post. Arm contact with the isolated screw is maintained by the spring, between the lever and the timer arm. Electrical contacts as follows: Battery positive (B+) to coil positive (C+). Coil negative (C-) to binding post at timer wiper. Battery negative (B -) to binding post on isolated screw at timer arm. Hi tension to spark plug. It works as follows - When the wiper makes contact with the brass strip, current flows thru the coil, thru the wiper, thru the block, thru the brass lever, thru the isolated screw, and back to the battery. When the brass lever is depressed, the circut is broken, and ignition is interupted. The engine stops. Timing is effected by moving the timer arm. Straight up is ignition at top center. Timing advance is effected by moving the lever against the direction of flywheel rotation, up to 45 degrees. My Detroit seems to run best at about 25 degrees of advance.
What type of fuel induction does your engine have

Detriot engines used 3 types. 1) Earliest used an adjustable intake LunkenHeimer mixer. This had 2 adjustments, one for fuel, and one for air flow. It acted like a throttle type carb, and needed constant adjustment for optimum operation. Main engine speed control was thru timing adjustment, fine tuned with mixer adjustment (this was labor intensive, and used a lot of fuel

) 2) Later early engines used a Schebler carb, although at first the carb was an option, instead of the mixer (easier to operate, better economy) 3) Late engines used either the Schebler carb, or the Benjamine Middleditch designed low pressure fuel injecter (optional) Early injecters were a 2 piece affair, while later ones were one piece units. On most of the marine engines, timing was the main engine speed control. The exception was the carbed engines. timing was set about 25 BTC, and throttle was then used. Fine tuning idle for docking was by timing control. The carbed engines were expected to deliver up to 15% better economy than the mixer fed engines. The fuel injectered engines were expected to do a whopping 25% beyond that over the carbed engines

If you can tell us the flywheel diameter, I may be able to tell you HP.
Andrew