Chesapique said:
I think that this just refers to the wing nut on the port side that tightens to hold the rudder either up or down. You simply untighten it let it fall into the water when you are ready. Although there must be some trick to pulling it back up easily that I have not yet figured out.
There should be a large wing nut on port side of the rudder head, on the end of the axle around which the rudder blade pivots in the vertical plane. This is a friction nut to secure the rudder in the lowered position. To move the blade to other positions, loosen that wing nut.
There should be a piece of line attached at both ends to the rudder head. Pulling on one side of that line moves the rudder blade to the lowered position. Pulling on the other side of that line raises the rudder blade to about the half way position. To raise the blade to the full vertical position, use the rudder head line to get the blade halfway up. Then tie a loop in the end of a spare line and use your boat hook to place the loop over the outboard end of the rudder blade. You then can easily raise the blade to full vertical. You can secure the blade in the vertical position with the wing nut, or, to be more secure, leave the loop on the rudder blade and tie off the line.
Best wishes
Hugh