1970 340 SWINGER AIR CONDITIONING INDICATOR LAMP

I'm not familiar with '70 models, but I think my '72 has something similar and it's the light source for the ac and heater control pushbuttons, which are a clear plastic. Is it possible that this is the case on your car? If so, then it would be the regular interior light circuit, not ac clutch.

just a thought as i re-read this