6kw Marathon Pancake Generator Issue

[pdeal]

This is my first post here.

I picked up a fixer-upper Allmand light tower that had a locked up engine. I got a replacement engine for it from a guy on Ebay (kubota d905) and have the engine/generator portion of it put back together. While I had it apart I put a new bearing in the generator and cleaned it up some. I also flashed the rotor while I had it apart since it had not been run for a long time. The generator is a 120/240v output. I have been using a 1500w space heater as a test load. What happens when I load one of the 120v legs out of the generator the voltage drops down to 100v or so and the other leg goes up to about 150v. I also used the generator some last night with a chop saw and it really bogs down. I see where some of you bought some surplus Marathon Pancake generators and wondered if you had seen this. One thing I have not done but I think I will is to replace the capacitor on the generator.