No experience with the 301, but from the sounds of the previous posters description and from my experience with a 306, it may be similar. on the 306 there is a "Thumb screw" ( looks like the knob/screw that holds the foot on) underneath the machine. Flip the machine back and look for a knob on one of the shafts of "Forks" and see if it can be turned easily, on my 306 it is tightened all of the way to engage or raise the feed dogs, if I am right ( I am sure someone will post and let us know ) and you are having trouble finding it, I can take a picture and post it for you.
Good luck and congrats on your find !
Dan