Headlights on Car off

Just brought the "new" home. 72 240 all original except for the wheels. Bought from the classifieds here. The car has no power to the fuse labeled ignition. If you bridge from the next fuse labeled flasher power will go to the ignition switch. With tester voltage always present to the flasher.

Any ideas what to check next. Once the car is started everything guages ect work. The other thing which I am almost sure is tied in is when you turn the headlights on the car dies. All other ecectrical stuff works. I have cleaned the conections at the alternator and voltage reguator. When the car is running the ammeter shows no charge.

A bit puzzling...