Smells like a fuel supply problem. HOwever:
Them early birds have an ingniton wire funny. some white wire from the Starter Solenoid. Maybe the Ignition is presently reliant on that white wire.
I assume you gots an HEI (not points): How about a copper wire from Switched-12V (wiper motor Black/yellow ) for awhile to see if the drop goes away.
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