If your 2 wires in the same plug are red and black one is probably DC charging wire and the other is an AC output for lights. I forget which is which. You can look for a diode in one of the wires but you will probably have to remove the cover and you may have to remove the flywheel. The wire with the diode will be DC to charge the battery.
If both wires were the same color they would both be AC and plug into a regulator which would mount on the engine. The output from the regulator would be DC of course.
The other black wire is the ground wire to the magneto.
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Today's Featured Article - Ford Part Number Trivia - by Forum Participants. "Replaced by" means the part was superseded. All of my part books date back to 1964 and New Holland have changed some part numbers. They usually put the old Ford part number on the package. I was suppressed when I looked up the part number of the auxiliary drive shaft because for some reason the part number went through a radical change and it lost its "Basic Part Number". Ford part numbers follow the following rules. Most part numbers are in three parts. The middle part is called the
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