Pumptrol Pressure Regulator adjustment
Actually, the smaller control sets the differential amount between the low and high cutoffs, that is usually a 20lb difference, such as 30lbs "turn on" to 50lbs "turn off" (the default factory settings), or 40-60, or 45-65, etc. and you really should not mess with it.
Just adjust the longer control, tightening it up to increase both the low and high cutoffs, or loosening to reduce them both.
If you suffer from lower pressure than you'd like, then you do want to adjust both ends of cutoff the same amount.