YES I know it's really really sad lookin

My 175 is quite sad looking as well but ya gotta start somewhere and the price was right. 

Not knowing as much as many folks on here.. but… it’s quite like the old lawnmower engines that had a tin strip along side the spark plug… you push that hunk of tin to ground the wire…. So.. you have to keep one wire from the ignition coil going to high tension coil in tact.. if it’s grounded.. there will be no spark..
I’m sure there is many diagrams of these bikes in the tech library that will show which wires you need to use… you have to study them.
Sneezles61

Nevermind  :0)

"That's how mine was stolen back in 1972." 

Which is why it might not be the best idea to post the answer on an open forum? 

(Probably doesn't matter much these days...  they tend to carry off bikes and throw them in a truck.)

Locks, keys and do not trespass only keep the honest peeps at bay…
Deviants will do as they please.
Sneezles61

I don't  think I  have to worry much about getting  spark. No wonder piston was stuck. Probably  the worst looking flywheel  and stator I've ever  seen. 
Looks like ill be looking for a stator/flywheel    

Ouch!  That looks like it's been sitting at the bottom of the ocean...

PO told me it had been sitting for around 30-40 years in a barn in Alabama

Holy Smokes