Bob, Have you tried the old dynamo trick of putting a battery across the field coil to restore the residual magnetism. If you look up "repolarising a dynamo" on google you will see what I mean. You have to connect one side of the battery to the chassis or ground of the generator, then flash the other side of the battery onto the field connection, If the generator is positive earth, put positive to the ground or chassis. hold the wire on for a few seconds, then take it off and you should get a spark, keep doing this till you get a nice fat popping spark, then try your generator again. If it has been stood a fair time unused, it is far more likely to have lost ist residual magnetism than it is to have a faulty armature. Also check the brushes are free in their holders and making good contact with the armature.Good luck
Phil.
Phil