I'm chasing a gremlin myself. Test light on at starter switch, both sides of fuse, both terminal box posts, both ammeter posts, and hot at the generator output. Original points cutout and original ammeter. 6V positive ground as original, using an Autolite long generator. 1930 Model A. Started two weeks ago when the ammeter needle was bouncing wildly back and forth from Discharge to Charge. Then wouldn't show 'charge' anymore. Only discharge.
Each of the above connections shows 6.4V 6.4V at battery too. Did a continuity test on the cutout it's OK. also on the yellow wire circuit no open circuits but since it is hot I figured it has to be working anyway. Same with ammeter not shorted out. I haven't fooled with the ignition side there is power to the ignition switch and on both terminals with switch 'on'. Car starts and runs fine. I've used two known professionally rebuilt gennies and they are both working fine.
My problem is ammeter not showing a charge. Have tried a spare reproduction ammeter same thing. 'New' original ammeter shows a 'charge' when you throw the lights on. Tom W. told me that it may be a Model T ammeter (negative ground) or someone put the magnetic ring in opposite, and switch the wires at the ammeter. Still won't show a charge.
Drug out a book I've had since 1972 by Mary Moline 'Model A Miseries and Cures' and it says it is one of four things: 1.)bad generator 2.) bad cutout 3.) bad ammeter or 4.) open circuit i.e., yellow wire or yellow wire with black tracer.
Hot today got up to 90. I stopped working on the car early afternoon. Never lost my patience taking it a step at a time. Will get back on it probably Thursday.
But it's got me scratching my head

I've done the basics, three times same results, somehow I'm missing something it has to be simple. Since I'm getting good voltage all over the place, have swapped out (one at a time) known good ammeters-cutout-generators still no go, I'm stumped.
If I find it I will post the results. Only thing left to do at this point is call in a priest and hold an exorcism on the old girl.