I think the 321 was a different engine than the 301 (12HP). I thought there was basically four engines in the K series, the 4 HP K 91, than the 141, 161 and 181 (6-8HP) were basically the same engine, the 241 and 301 (10 and 12HP) and the 321, I may be wrong and I am away from home so I can't refer to the parts manual. All the prefixes and suffixes and their meaning are listed in the master parts manual. IIRC the S means it is electric start. The parts manual also gives some definition to the various spec numbers.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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