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My thermostat on my woodburner has 3 pointers. I have the first one on 80, the second on 160 and the 3rd on 200. If the first is for where the blower kocks out and the second is where it kicks on, what is the 3rd one for?
This would be the high limit switch setting. It would shut off the oil/gas burner if there was one connected. On your furnace I'm not sure without knowing the make/model. Maybe air damper closure control too?
It's possible it was a damper control. The furnace was given to me. I would guess it was pretty old. Inside the firebox where the stovepipe connects, you can see that something was removed. My guess was that it was a damper. The stove has ORC LaCrosse on the loading door. Other than that I have no idea what make or model it is.
My guess is that it would control an intake damper and not anything on the stovepipe. But that's just a guess. If the stove reaches high limit, you want it to shut the heat source down. Blower can keep going to accelerate cooling, but the fire should be stopped.