Guys,
I've got a Lionel TW Transformer.....it seems no matter what terminals I hook it up to it has constant voltage to the track. I.E. I have a 2037 on the track, and no matter where the power dial is set....all terminals have power. In other words I can't stop the engine from running once I hook the transformer up. Anyone else ever seen anything like this?
Grady
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Sounds like something is amiss inside, time to pop the cover off. 
The TW transformer is an odd-ball model with two physical transformers inside.
One transformer provides fixed voltage for accessories, the other provided variable voltage for the track.
Try terminals "A" and "U" for 7 to 18 volts.
CW is correct, posts A-U. The TW is the worst transformer Lionel made. The 2nd aux transformer inside the case that is meant to power accessories has a habit of overheating. And on this model the die cast control shafts that the plastic handles mount to get hot and deteriorate and warp the handles. These tend to be problem prone transformers. There are 2 versions, the earlier one has 8 binding posts, the later, '54 and after have 7.
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