A defective condenser would short the voltage to zero, not allow it to remain at battery voltage with the points closed. I'm guessing the points are adjusted too wide, and are never closing to allow current flow through the coil primary winding. A wrong connection at the inside of the distributor housing that insulates the point spring from the stud can cause the same problem.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!