More testing or get new points and condenser. This is a bit I found under search: Posted by HRL.
Not sure about how any of this changes due to Positive ground, so use caution.
"A voltmeter will be a better diagnostic tool than an ohmmeter. With the points open and the ignition switch on, you should be able to measure full battery voltage at both coil primary terminals. With the points closed, You'll get battery voltage at the upstream terminal (from the switch) and almost zero voltage on the negative terminal. More than a fraction of a volt at the points when they're closed indicates dirty points- - - - -clean or change them. DO NOT use a file on points- - - -I prefer to clean them with a piece of business card stock, etc.
A bad condenser can cause a no spark condition. Also, you'll need to test the coil output by holding the coil secondary wire close to a ground and have someone crank the engine. You should get a spark at least 1/4" long. If you get spark at the coil secondary and not at the plugs, check to see that the distributor cap and the rotor are the right size- - - -a tall cap and a short rotor will not get a spark to the plugs even if the coil is good.
Jerry"
I will add: Check to be sure rotor is rotating. Be sure the new coil is correct, like internal/external resisted, 6V is internal I believe. No ballast resistor. Something is grounded/shorting out.
Just brainstorming.
