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You car does not have a temp compensation board. They came in - I think - in 1986 with the advent of the electronic speedometer, along with a nmber of other changes.
All the 240s I have owned of 1984 and older vintage have had these temp guage readings, when things were runing right.
First start in the morning, gauge needle moves (at about the speed of a sweep second hand on a wrist watch) from zero up to about 11 0'clock. Then it immediately starts downward, coming to rest at the 9 0'clock "normal" position. As long as running continues, the needle stays "welded" at normal.
Starts later in the day usually do not have the same readings, as the engine is warmed a bit.
The movement of the needle on the first start is completely expected, as reflects the action of the thermostat. If your readings are not close to these, something ain't right.
Thermostat in, but incorrectly.
Thermostat is, but not the correct temp type. Should be 92 C.
Thermostat not in.
Thermostat OK, and wiring from temp sender to temp gauge is flaky or messed up somehow. BTW, that wire (yellow) is one of the bundle with the crumbling insulation problem.
Hope this helps,
Bob
:>)
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