I've seen single-tube petcocks and double tube petcocks on these bikes. That's because there are two ways that stock carb racks were fed. Some, like my 77 550k, have a single fuel gallary to feed all four carbs. It has a single fuel line connection point between carb #1 and #2.
Other carb racks have two seperate gallaries with a feed line between #1 and #2, then another between #3 and #4.
If your carb rack needs only a single feed yet your petcock has two tubes, your petcock (and probably your tank) is not original to the bike. You can block off the unneeded line or join the two lines together with a "Y" fitting.