Gents
I have an MTH (early) Z 750 controller and its mate - a 24 VOLT transformer. See pics.
If I use the controller on a newer MTH brick I only get 9.5 Volts from it.
If I use the 24 VOLT transformer with the controller it came with I show 12.5 at full throttle which runs a basic train well.
Is it possible that this pair is paired so that despite the brick being 24 VOLTS, the controller will only put out half at 12.5?