That rings a bell, Everett. I think the wires are yellow and red for a CW one.
The two wires that were on the old distributor you spoke of....the black fiber one was the resistor wire. It dropped the voltage down for the points system. The yellow one was wired to the R terminal on the starter. It only became energized when you took the key to the "start" position and put a full 12 volts on the points.
What you want to do is run a 12 or 14 gauge wire from the fuse block inside the car. There is a position marked "IGN". It is hot when you turn the key to "Start" and when in "Run".
It will run with the old resistor wire but not well.
Your timing is probably just not advanced enough. I can't get mine to fire with less than 12 degrees of advance.
Take off the distributor cap. Rotate the motor around until the rotor is coming to where the #1 post should be. Stop the motor so the mark on the damper is lined up with the 12 degrees advanced or 12 BTDC mark on your timing tab.
Now, remove the rotor. You'll see eight triangles cast into both the distributor body and the rotor body that are pointing toward each other. Loosen the distributor clamp and move the distributor slightly so that the triangle points are lined up directly pointing at each other. Then lock the distributor back down and make sure it doesn't try to move. Reinstall the cap, rotor, and everything else. If the power to the distributor is right, it will fire. Make sure that the wire is on the IGN spade and that it is hot when the key is turned to "Start", not just to "Run".
You'll then have to set your full timing but 12 advanced will get it started.
I posted HEI installation method I always use in another thread: