You need to do as one poster suggested, make sure your distributor has not sheared a pin or taken some teeth out. You have to establish that you are getting that spark to the cyl at the proper time, pull number one spark plug, put your finger over the hole and crank by hand until you feel compression. Then align the timing mark, will be two close together, five degrees apart, first one is tdc. Now your points should be just opening in their normal direction of rotation of the distributor. Until you establish this you are just guessing. The reason you see spark at the points when cranking with dist cap off is the secondary in coil is building high voltage against an open circuit, therefore the voltage in primary winding builds higher than normal and arcs at the points. There are as many different ways to check for a good spark as there are people doing it. It sounds like you have spark but at wrong time. And yes indeed, it will run by spraying gasoline, or starting fluid or many other flamable fluids into intake even with out a carburetor one it. Keep trying, you will get it but be very careful around the carburetor and using various fluids.
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Today's Featured Article - History of the Cockshutt Tractor - by Danny Bowes (Dsl). The son of a very successful Toronto and Brantford, Ontario merchant, and himself quite an entreprenuer, James G. Cockshutt opened a business called the Brantford Plow Works in 1877. In 1882, the business was incorporated to become the Cockshutt Plow Company. Along with quality built equipment, expedious demand and expansion made Cockshutt Plow Works the leader in the tillage tools sector of the farm equipment industry by the 1920's.
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