Early Flyer 16B Transformer Issues

I am having some issues with a 16B Flyer Transformer. It is the variation that is rated at 175W with the large chrome American Flyer nameplate on the front and two circuit breakers. When the 5-18V post is shorted to the Base post, the breakers open and the output becomes an open circuit, but the overload indicator doesn’t light. The bulb is good, and there is continuity across the socket with the bulb in place. The AF service manual by K line only show the later 16B, which is very different from this early version. Any info would be appreciated.

I have gone back through and checked the wiring again. Everything appears to be original. I am stumped on this one. I am at the point where I might cut the cord off and smash the case. I’ll keep the cord for a good transformer and throw the rest out. It isn’t woth the aggrevation.