Some 235's do have fiber timing gears which do break occasionally. You can pull the distributor cap and crank the engine to see if the rotor is turning. If the rotor turns, the valve timing probably didn't slip.
If you get no spark, check the condition of the points and make sure the condensor didn't short out. Check for 12v at the - terminal of the coil while cranking. If it flips between 12 (or 6 if you have 6 volt system) and gnd, you have working points, but if it stays at 12/6 or gnd you have a problem with the points.
