Small Engines (Lawn Mowers, etc.): loss of power, adjustment screw, blowing snow


Question
I have a 8hp Toro snowblower  hmsk-80155438R   All I have on the serial # is last digits 327D   The machine model# is 38080   Serial # 3901192
The motor is set at 3600rpm.(set with tach) runs great high and low speed
Once I put a load to the snowblower it will blow the snow but it will slow down and even stop when I get into the deeper snow (approx. 6") stop blowing snow not kill the engine.
The belt is new. I had the cover off so I could see the belts.  The pulley stops turning as well as the belt,  so I do not believe it is a belt. engine doesn't seem to kick in to the higher rpm when under load.    
I believe that the governor is the problem but is it internal or possibly a setting on the governor shaft or spring?
When I was able to adjust the speed to 3600rpm, the adjustment screw on the governor arm was all the way in( does this mean anything?)
Is there a way to adjust the governor under load?
Thank you for your time
I think that it is fantastic that all of you volunteer your time
I have been reading your forum and get alot of useful information
Any information will be appreciated
Pete

Answer
If the pulley stop turning then I suspect a key or screw may have come loose or is missing.  

Does the auger pulley stop turning when under a load?  

The governor and slipping pulley are seperate system.  I believe you governor is working properly.

Eric