farmall m wont start/run?

Have a farmall 'm' tractor that died and hasn't run since.It was running great and then started to backfire out the exhaust and died about 2 minutes later.It has good voltage to coil,good spark from dist to plugs,new plugs,good fuel supply,newer carb(about a month old)and even took front of engine apart and checked timing gears which are good(not worn at all).I even tried ether directly into cylinder head but nothing,not even a backfire.Not to sure what compression should be but it seems to have the same as before it died.What am I missing?