the point opens up and you get no voltage path to ground. Normally the power (12 volts or 6) goes to the coil, then out of coil to the distributor point, and the point grounds when it is closed. The capacitor is in series with this and connects to the point terminal and case is grounded. YOu can not let the wires on the small screw (on point) touch the frame or bracket. IF the point is not adjusted right, it will not open, and then you will get no spark. If it opens at the wrong time, you get spark, but it does no good. If the point is opening and closing and breaking the current path, and still no spark, then change the condenser... test again... if no spark, you might have a bad coil.
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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