The closest I've seen to any specifications for adjusting the clutch is from
this 1960 manual that mentions field adjustment. Perhaps there is a shop or service manual available with more detailed adjustment.
Here's the text without illustration:
"Each Gravely Model L Attachment has a Gravely Safety Clutch,
which prevents sudden shocks from harming the attachment or tractor.
It is very important that these Clutches be adjusted correctly. If
they are too loose, the Tractor will not drive the attachment efficiently.
If too tight, it is possible that a sudden shock may injure the
transmission or the attachment.
The illustration (Plate 13) shows the proper method of field
adjustment. Place a flat bar in the driving slots of the Slip Clutch.
Hook a pair of spring scales on the bar 12" from
the CENTER of the Clutch. Then adjust the spring tension by
tightening or loosening the 6 bolts EVENLY so that it takes 30 to 36
pounds of pressure to make the clutch slip."
Tony