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The instructions for using the KRW V-126 fixture are shown in the Nov-Dec, 1933 service bulletin, page 134, and updated in the August, 1934 bulletin, pages 204 and 205. These documents are reprinted in the 1932-37 Service Bulletins.
By 1938, the recommended piece of equipment to set the timing of the distributor is the stroboscope. However, the timing procedure for using the V-126 fixture is also documented on pages 341 and 342 of the 1938-1940 Service Bulletins, subject number 12127 pages 59 and 60.
If you don't have access to the service bulletins, I see copies of the reprinted bulletins reasonably priced on e-bay frequently.
Good luck with your distributor.