Well from what i know that is not a stringer. Mine is also a 74. Looks like your 74 used to be an i/o. Check ou the link. Pic 4 has what appear the be the same wood pieces.
http://www.thehulltruth.com/boats-sa...t-reduced.html
These boats have foam filled fiberglass stringers. So its not a stringer. I dont see any reason you cant eliminate the piece. Its not structural.