It sounds like you're trying to console this TLK.
If so, what you would want to do is telnet into the Portserver TS2 and send the following commands after logging in as root (default pw: dbps):
(The following example will be used to configure port 2 of the Portserver TS2.)
#> set ports range=2 dev=prn
#> set line range=2 ?
(use the set line command to set correct baud rate, parity, etc. at this point)
#> set flow range=2 ?
(use the set flow command to set flow control to match however the TLK is set)
#> kill 2
To access the TLK connected to port 2 of the Portserver TS2 from your application, you will want to use the IP address of the Portserver TS2, with TCP socket 2002. The TCP socket number is the sum of TCP Base Socket (2000 by default, see "set config ?" for details on how to change it) plus <port number>, i.e. 2002 in the preceding example. If your TLK needs a binary socket connection rather than ASCII, use socket 2102 instead (2100 being default binary socket base).