Hi Eddie:
I appreciate you posting this question to the AMC List.  Thanks, Gary
Just bought a '64 American with the 195.6 L Head engine.  Been sitting for about 10 years.  I cranked engine and it sounded like 
no compression.  I did a compression check and only have 110 pounds in cylinder #1.  I have zero compression in all of the other 
cylinders except for maybe 5 pounds in #6.  I retorqued the head bolts and still the same.  Timing chain does not seem to be 
broken as rotor points to #1 cylinder at TDC and is close to the timing mark.  Any ideas what's going on with this engine?