What am I doing wrong?

Hmmm, Interesting problem. Maybe a short circuit due to wiring it wrong? There would be no way to determine without seeing it set up. May you send some pictures so I can help ya?

Yes, I can do that but I forgot to mention in my post that this same setup worked when I had the layout on the floor (before building the train board).  I had both lockons wired directly to the binding posts because I had dead spots with just one lockon.  It worked fine.  Why it does not work now is perplexing to me.

I'm using the U and A posts on the transformer

Well, Without pictures I cannot really help much, other than say that it might be wired wrong.
Do you have a voltage meter at all?
You can use that to test the voltage on the tracks

I do have a voltage meter but have never used it to test track and basically I'm not very familiar with using it.  What settings do I use?  I do appreciate your help.

Just so I understand what you see, you have 2 lock-ons connected to a loop of track each on a different track section.  No power to the track anywhere.  Remove one of the lock-ons without touching the other and you have power everywhere on the track.  Place the 2nd lock-on back on the track section where it had been removed, remove the the other lock-on and you again have power everywhere on the track.  Is that what you observe?  How are you checking for track power?  You may have a few dead track sections.  I am assuming you don't have a meter to be able to test continuity.  How about a piece of rolling stock that has a light?  If you push it around the track you would see if there was a continuity break in the track somewhere.

Hard to believe but now it's working and sorry to trouble you fine people .  I can't explain it other than a rewired everything and daisy chained the two lockons together.  But I did that many times before posting without success since I did not want to bother this forum with such a simplistic question until I was sure I had no answers.   It's funny really, like feeling better the day you're supposed to go to the doctor! 

If you are using tubular track, are you sure the lockons are snapped on all the way? The wire might be holding them in place or pulling their connection. Other lockons have other issues.

George

With the transformer connecticut, to check voltage, choose the AC volts setting and touch one meter lead to the center rail and the other to the outer rail.  Check the voltage at each track setting.  If you are testing continuity or using the Ohm scale, you need to have the power to the track OFF.

Glad you have it working OK now.

Thanks everyone.  I just can't say enough about what a great website this is.  I've learned so much as I attempt to reacquaint myself with the trains that I loved as a boy in the 60's (I had a Marx).  Now I have Lionels (plus I still have the Marx set) that I inherited.   I'm truly grateful.   What makes train collecting in my opinion "The World's Greatest Hobby" is not the trains alone, it's the people who share a passion for keeping the hobby alive.