This is a very fiddly job.
First, mount the horn on a bracket in a vice. After assembly, of course, with the dome nut removed
Loosen the large nut on the back. Loosen the lock ring in the centre of the armature and back off the adjusting screw.
Apply 6 volts to the terminals , from a BATTERY only. Ensure the diaphragm is moving and the points are not opening. This is seen by the diaphragm staying in. Don't hold for more than a couple of seconds as you can burn out the coil.
Adjust the rear screw until you hear a distinct click as the armature hits the pole. Lock the nut and retry, it can change.
If you have a dial gauge, measure the movement of the armature, it is supposed to be 11-13 thou. The horn will work OK with slightly less.
Next adjust the centre screw in the armature until the horn sounds OK. Lock the ring and fit the tone disc and dome nut.
Fine tune with the adjusting screw on the back.
The Altettes without the adjusting facilities, from 1949 - 52 are very difficult to tune. It is done by adding or subtracting gaskets from beneath the diaphragm to get the measurements above.
Don't use a battery charger or any rectified DC to test the horn as it will not sound right. Use a fully charged battery.
I hope this long winded answer helps. I have overhauled countless numbers of these horns.
Trev.