New Project - '71 Plymouth Valiant

One more thing, I found this wire poking out on the passenger side of the motor. It's coming out of the harness that ties to the Alternator, but the wire is too short to reach it (don't think it goes to the alt. anyways), it looks like it goes to the Distributor, but I can't see anywhere it would connect? Any help would be amazing, anything to get her at least running again... I miss the sound of her purr...