54 Ford Ranch Wagon, 312 with voltage regulator and generator converted to 12 volt. System charges nicely but the generator light ( 12 volt bulb )stays on.

Take the bulb out of the idiot lite.

  

What is the charging voltage?

Charging at 14.3

The bulb has two wires coming out of it. One should go to battery voltage at the ignition switch; the other should go to the "arm" terminal of the voltage regulator along with the heavy generator output wire. When you key on, battery voltage is supplied across the bulb from the ignition switch to ground through the generator armature. When the generator starts charging, "battery" voltage and generator output voltage are equal so there is no potential across the bulb and it goes out.

Make sure that both wires are connected properly and if so, check for short to ground in the wire between bulb and regulator.

1954 Crestline Victoria 312 4-bbl, 3-speed overdrive