A "fixed" voltage Powerhouse transformer will actually have a somewhat variable output voltage. This depends on the resistance of the windings, altho this resistance is somewhat difficult to measure, being so small (including the fixed wires to the special connector). The voltage drop is dependent on the output current flowing thru this resistance.
There is also the issue of the smaller house current flowing thru the primary coil... not to mention the magnetizing current also taken from the house line. The first is a bit significant; the second not so much so and usually ignored,
The so-called "short-circuit test" is typically used to directly add up most of the factors and is considered sufficiently accurate for field use. With the the 135-watt PH (rated 7 amps), I obtained a value of 77 amps. This indicates a regulation of nine percent (7/77) or one part in 11. This means that in the vicinity of 20 volts no-load voltage, the full-load voltage will be about 2 volts less (20/11) or 18 volts. The half load voltage will then be 19 volts.
I assumed at the time that the design of the 10-amp PH (180 watts) would result in these same output voltages from no-load to full-load. So the observed reading of 19 volts is not to be unexpected, with a locomotive draw approaching 4 or 5 amp, depending on added resistance of added wiring, track, and roller pick-up.
So I'd say the indicated 18-volt output is at the rated output of 10 amps for the 180-watt PH. I can't recall if I made a winding ratio test to verify this, but I do recall checking the line voltage. as all of the outputs increase as line goes above 120v.
Note: It is possible the PH's were designed for the 125v 60Hz Mexican system (also said (Internet) to still be in use in parts of California) as had been the case with the postwar ZW. The need here would be for a proportionate increase in iron core weight. A little more weight would cover use on 50-cycle current in Europe (60/50)... I've noticed the 10A PH's are rather on the heavy side, altho reaching 110v @ 50cyc is only little further than Mexico. There is some copper penalty as well, of course, possibly equal to the added iron weight.
--Frank