This a general method that will work for almost all these old engines.
Pull the spark plugs and crank the engine oer with your thumb over the #1 ylinder,. When you feel pressure, you are on the compression stroke for #1 so stop the cranking. Line up the timing mark to the specified initial timing point. The engine is now set up for timing. Don"t rotate the engine crankshaft from this point till you have the initial timing set.
Remove the distributor cap off the old distributor. The rotor should be pointing to the #1 plug wire terminal. Note that general direction ( i.e. 10 o"clock, three o"clock, etc). Remove the old distributor and replace it with the new distributor which you have already set up with new points that are properly gapped. Try to get the rotor pointing into the same direction as on the old distributor and snug the clamp down. If the distributor drive is a gear you note that as the gear engages the distributor will rotate so try to get it so that the rotor is as near as possible pointing in the same direction as the old distributor. Snug the holdown clamp down so that the distributor can be rotated but not so loose that it moves easily. Make all the electrical connections from the coil to the distributor.
Take the high tension lead from the coil and hold it near a good ground after turning the ignition ON. Rotate the distributor back and forth slightly until you hear the spark snap. When the spark snaps, you are initially timed. You may have to do it several times til you feel you have the distributor at the correct point, then tighten the hold down clamp without moving the distributor. Put all the wire in the cap, put the plugs in and cnnect the spark plug leads to the plugs. You can now start the engine and check the timing with a timing light. Check the initial timing and the advance function with timing light.
Hope this helps you.