That's not a one wire alternator.
The one wire alternators work great and are trouble free. Like this one:
Nice thing about them - you only have to hook up one wire. Last forever, no trouble, done.
1912 Model T Ford touring Salmon (ugh!)
1917 Model T Ford Torpedo runabout green
1915 Model T Ford touring Black of course!
1968 Cougar W code 427 GT-E Madras Blue / Turquoise interior
1968 Cougar GTE 427 Augusta Green / Saddle