"Fred, the speedometer pick-up
"Fred, the speedometer pick-up is as noted above in the response from Ikia.
Your other question I assume is with regards to the Tach.
There is 3 connectors on the back of the tach. The connectors are Send, Ign, and Ground.
The ground goes to any source of ground under the dash (including the ground on any other gauge). The Ign is where the hot power lead goes - usually piggybacked off the key switch so that it only gets power when you have the key turned "on" - again can piggy back off the hot lead from any other gauge that works when the key is in the "on" position.
The Send (or Sender) is what gets the feed from the motor itself to measure the rpms.
Depending on who manufactured your shifter, the wire colour that feeds the "send" can be one of a couple of colours.
If you have a Mercury shifter (Quicksilver), the wire for this will be Gray.
The gray lead should go all the way back through your wire harness and connect to one of the posts on the terminal block.
The diagram below shows you the wiring for your motor, "O" is the terminal block - the tach (gray) lead goes to pin #5 in the harness.
If yours has never been connected, that is where you can take the feed from - of course assuming you have a standard Merc set-up...
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