You might know all of this already, if so, please ignore this post. Here are two things that might apply to your situation:
1. The thing that rotates up and down to clamp the pitman straps to the pitman bar is called the pitman lever, and it is being pushed by the part you are missing. The part you are missing is called, not surprisingly, the pitman spring. It is very difficult to get the pitman lever up to release the clamping action of the pitman straps from the sickle bar. Difficult, but not impossible.
2. The pitman straps are bolted onto the pitman rod with four bolts. You would be very wise to insure that the nuts on the bolts that are holding the pitman straps to the pitman rod are very tight. If they are loose and flopping around, the pitman rod will split.
Good luck with your 501. I have one that I've used for about 20 years. Although it can be a pain in the neck, it's what I have.
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