Hi Rick, Jeff has it mostly right. The bracket...
(keeper) inside the pedestal secures both the throttle and shifter cable sheaths from moving allowing the cables inside the sheaths to operate smoothly. This bracket is bolted to the pedestal tube, hence the stud that extends through the stern side of the tube. There is a cotter pin that locks both cable sheaths to the bracket. The bracket also serves to keep the sheaths away from the steering cables/chain system.Terry