As others have said its to prevent run on when shut down hot. I have had two fail on my 706 over the years, the coil in them burnt out. When it is energized it acts as the needle valve to control fuel flow at full throttle. 560's had just a adjustable screw in place of the solenoid. You can by the screw and collar from CNH and install them in the 706 carb. Cheaper than a new solenoid but you will have no run on protection.
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Today's Featured Article - Old Abe is Still Making Hay - by Jeremy Sweeten. Things have changed a bit since my last article. I am now almost finished graduate school at Purdue University. I am still in Agronomy, but specializing in hay and forages. My wife has survived two years of marriage to a part-time farmer. The equipment line up has changed a bit too. The DC has retired to
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