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Also ensure that the spark rod from the steering column to the distributor isn't rubbing against something metal in its travel, killing the ignition. If for some reason the armored ignition cable is "hot" and the rod touches metal, that will kill the ignition until you move the spark lever and change the position of the rod.
But I agree with the others that the problem most likely is the wire connecting the lower plate to the upper plate, whose flag is touching the metal distributor body and shorting out the ignition. A very common problem. The wire Ford used originally is WAY too thick, stiff and short for the job it has to perform. A longer, smaller gauge wire that is flexible would have been a far better choice and would have saved millions of owners a ton of electrical headaches over the past 97 years!
Marshall