Yep I got refered at another site to the Faq section where this is...
13. Q) What is the small round black and white dot on the bottom of my Marlin stock?
A) This is the Marlin "Bullseye". This trademark has been used since 1922 on all Marlin walnut buttstocks. Please note that this is not a suitable place to install a swivel for you firearm. Swivels should be mounted approximately 2 inches from the toe of the butt.
The sling stud on any rifle should be 2-1/2 in. from the end of the wood,placed there ,it does not interfere with the hands of the shooter and is not close enough to the end grain to encourage splitting of the wood.
The Marlin bullseye should not be tampered with and when found missing should be replaced by ordering an official replacement bullseye from Marlin.Shootrj2003
I used my caliper to measure the distance, and then marked for drilling. The bullseye is safely where Marlin first installed it.... no I didn't even try to remove this without consulting the forum board first. It was nice to also be directed to the FAQ link at the Marlin web site.
You all have a good one, I've got a hunting trip this week-end here in Montana in HD 292.