[Kurt in NJ]

The original wiring path is terminal box to coil( hot all the time), other side of coil to ignition switch, other side of ignition switch to distributor.
Probably how the replacement switch is wired but when the car was modified from original ignition switch it hard to say what was done.
If the wiring is changed—- terminal box to ignition switch, ignition switch to coil, other side of coil to distributor then you can have switched power from ignition switch.