You should check the ignition coil polarity. For positive ground the + primary terminal should go to the points. For negative ground the + primary terminal should go to the ignition switch and the - terminal should go to the points. You will get better spark that way.
The ammeter is telling you the batteries are reversed from the design polarity and its probable that the generator has been flashed to negative ground polarity, else it wouldn't charge (showing as discharge until you reverse the ammeter connections). It would have burned up the generator trying to charge with battery and generator of opposite polarities.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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