With respect!! Terminology is critical in word based diagnosis, so this may help. All generators must be disconnected from the battery when they are not turning. This prevents the battery from draining back into the wires in the generator. This device in pre-solid state systems was a cutout relay. It connects when the gen makes more volts than the battery, and disconnects when the gen voltage drops a volt or two below bat voltage. It is pretty much a stand alone device.
For cost reasons the IHC decision makers chose a cutout relay with an internal resistor that could be used by tractors with no lights (lighting systems were an option at the time) to maintain the battery with a modest charge rate.
This fixed resistor is present in the cutout relays of the tractors equipped with lights. it is not used (terminal left disconnected) the tractors with lights used a charge control on the 4 position switch allowing L charge rate (same as the resistor in the Cutout) or a High charge rate which charged higher rates for recharging when restarting the tractor multiple times, or when in either of the lights on positions.
It is also necessary to use a cutout relay inside a voltage regulator, so that era mechanical regulators like yours have a cutout relay built into their design. There is also a voltage control relay in the same housing. It is controlling the voltage output of the generator. It is connected to the cutout only because there is one winding (going to the Bat terminal) from the contacts of the cutout. This allows the voltage relay to react to high current loads and limit the current by reducing voltage. (generators are not self regulating on current, and are best regulated this way, or with an additional relay specifically designed for current regulation. Your metal box has four terminals and is a voltage regulator. If it had three, it could be either a cutout with only a cutout being used (F terminal not connected) or a cutout and fixed field resistor (if your tractor had no lights).
There are Delco voltage regulators used on some IH installs (more recient) that have only three terminals but are true regulators) they do not have the L terminal. They are also modest in size and can be confused with the older cutout box. Part numbers will spell the difference between them (or they will be OEM on equipment with three position light switches).
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