To operate tilt steering on 71-73 Mustangs -
1) Pull the turn signal switch towards the driver
2) Raise or lower the wheel to the desired position.
3) release the turn signal lever.

Now being thirty years old, you may need to lift the steering wheel a bit to take the weight off the tilt catch. Then pull the turn signal lever back towards you and position as needed.
If the locking pin/hole inside the column is worn the wheel may just slide back down to the bottom and not stay "tilted" in the position you like. This would require a repair to correct.

Good luck!
Doug

 

Thanks! I'll check this out when I get back home from work.

 

On my 72 mach 1 I have to push the blinker lever away from the driver then move the wheel.

 

Got me doubting myself now....is it my C*evy that has a pull and move while the stang is push? Damn, now I gotta go home and check tonight! Either way, it's the blinker lever /forums/images/icons/smile.gif
Thanks for raising the question!
D