From what I have found out on line and from my shop manual (1947 AD (Thriftmaster) or 1947 second series) is that the '47 came with a three speed on the floor with synchros or a four speed without synchros. The SM 420 wasn't used until 1948.My transmission is a four speed with no synchros. There is a reverse lockout lever rod that runs along the side of the shifter which is activated by lifting up on a 'tab' to the right and just below the knob. On the SM 420 you push down on the shifter and put into reverse position. My transmission has a PTO plate.
Thats interesting. I did not know that the 47 second series had different transmissions than the later AD pickups. My shifter does not have the reverse lockout. A week before I got this truck I looked at another 47 and it had a shifter I hadn't seen before. From the description of your 4 speed I think thats what it might have been. Here is a picture
https://picasaweb.google.com/lh/photo/UQjrPE2C2ncs4fQviRzr7NMTjNZETYmyPJy0liipFm0?feat=directlinkps Since it sounds like you also have a 47 AD, what shop manual did you go with? The 47 only or the 48-53 one?