Henry - If the tractor were mine I'd put a crowbar in my wallet, purchase a new regulator and be done with it (will cost you less than your next replacement battery!)
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That said, and if you still feel like messing with it, the regulator relay is adjusted by gently bending the spring hanger. It is best accomplished with pair of small needle-nosed pliers. Here's how I've done it:
Make sure the battery is fully charged. Remove the regulator cover. Place a DC voltmeter across the battery. Start the engine and run it at full governed RPM for a couple minutes before proceeding.
Now VERY CAREFULLY grab the regulator spring hanger with needle nose pliers (don't touch anything any other metal with the pliers!). While observing the voltmeter, bend the hanger very slightly to reduce the spring tension.
When the voltmeter reads 7 - 7.25 volts, stop! Let the engine run a minute or two and check the voltmeter reading again. If it's not 7 - 7.25 volts go back and bend the hanger again as needed. It may take several tries to get it to spec.
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As I mentioned before regulator setting is a fussy, sensitive adjustment. And as "Bob" points out above, one slip with the pliers and the smoke will come out of the regulator - you will wind up buying a new regulator anyway! (Don't ask how I learned this....)
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Today's Featured Article - The Fordson F Ignition System - by Anthony West. A fellow restorer contacted me earlier this year asking for some help and advice on a model F that he was restoring. He had over a period of months spent a fair amount of his hard earned cash on replacement parts for the old "trembler" ignition. Sadly though all his efforts seemed to be a waste of time and money as he still couldn''t get the temperamental old thing to run correctly!! If i said that this was a little frustrating for him that would be "conservative" in fact the problem had reduce
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