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I SHOULD HAVE QUOTED IT THIS WAY, I HAVE A 351M AND ON IT IS A MOTORCRAFT ALTERNATOR. IT HAS 4 TERMINALS, A GROUND, A BLACK INSULATED, A RED INSULATED, AND A WHITE INSULATED. I KNOW THE GROUND AND THE RED IS BATTERY BUT WHAT IS THE BLACK AND WHITE ONE FOR.I THINK ONE IS THE RUN/START ON THE IGNITION SWITCH AND THE OTHER GOES UP TO THE GUAGE/IDIOT LIGHT.BUT WITCH IS WITCH.
The white (actually white w/ black stripe) goes to the "S" (stator) terminal, this operates the automatic choke on the carb.
Black w/ orange stripe (heavy gauge) goes to "Bat" terminal (this is the alternator output).
Orange w/ lt blue stripe "F" (field) terminal
Last wire is ground, this works through the metal attaching lug that connects the alt wiring harness to the alternator.
All this is from the factory Ford shop manual.
This isn't a very good picture of the harness, but there are actually three wires and the lug that connect to the alternator.