Red and black pair are DC output from alternator. Connect Black to ground, and red to battery +'ve (usually the solenoid connection on the battery side is more conveniant than the battery itself, but if you're wiring from scratch it won't matter).
Coil wire is the 'KILL' wire - ground it to STOP the engine.
Wire on carb is the fuel shut-off. It must be connected to battery +'ve for the engine to run. MUST be disconnected (via ignition switch) when engine if off or it will drain the battery.
phil_saunders@bigfoot.com
Phil Saunders
July 2008