Tried several things. Swapped the ignition and battery lead on key switch, differant key switch, disconnected field coil wire, and finally the wire from generator to GEN side of cut out. That's the only change that stops the discharge. I still have a circuit if I touch the BAT side of the cut out and ground to the frame.
I'm assuming I have the correct hook up at generator. The wire from the generator goes on the GEN side of cut out? If so, it would probably mean the new cut out is no good? Does that figure?
Thanks Again!