SAE 300 JDX no weld output

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Hi, Just brought home a SAE 300 with Hercules JXD engine. It runs. It produces 120VDC at the plug. No welding current, but I show 12-13VDC across the weld terminals. I've cleaned and tightened most of the electrical contacts. Brushes and commutator look good. What should my VOM readings tell me and which point to point would I check next?Any help is greatly appreciated!