Who knows? I usually avoid commenting on 12-volt conversion problems because you never know what creative approach somebody did.
I noticed the 2 red wires on the same end of the resistor and initially thought the same as rusted nuts. But I then noticed there is also a black wire on the other end of the resistor. What, if anything, the resistor is doing depends on what the other end of each wire is connected to.
The red wire matches the added wire from the resistor to the coil. Therefore I assume it was added as part of the conversion and goes to the obvious place. If the greasy black wire goes to the ignition switch, the resistor is wired properly to drop voltage to the coil. To know if it is wired wrong, the first thing you should do is find the other end of the red wire. The prior responses assume it goes to the ignition switch.
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Today's Featured Article - The 8N and the Fox - by Zane Sherman. Dec. 13 1998, Renfroe, Alabama. Last niht I dreamed about the day that I plowed the field of about 10 acres over on what Jimmy and Dandy called the Ledbetter field. I was driving the 1948 8N Ford tractor that Jimmy bought in 48 new This was prebably in about 1951 and maybe even befor the house was built. This would have made me to be about16 years old and I drove the tractor for nothing and would have paid to drive it if I had had any money which I didn't, but neit
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