Marty, the only connections to ground shown on the schematic for the 122 model are:
1. At the battery's negative terminal (a cable)
2. At the starter solenoid (the mounting tabs must make a good connection to ground)
3. At the starter/generator (again, the starter/generator case makes an electrical connection to the frame of the tractor, I think some folks reinforce the connection with a cable)
4. At voltage regulator, once more through the case of the component
5. At the condenser, the case is grounded
6. At the points, the pivot screw maintains a ground connection
7. The spark plug is grounded to the cylinder head
So the only cable that should be going to ground is the negative battery cable! You should be able to trace any other cable in the chassis going to ground to one of the components mentioned, or, alternatively, remove it and see what happens.
One possibility is that a previous owner added an electrical accessory and needed a wire connected to ground.
(By-the-way, in DC applications, the "ground" is often black in color, not green as seen in home, commercial, and industrial AC applications.)
Good Luck
For Reference:
Edit: Bill Rhodes: Funny.