Which one are you referring to? Ford used their old, round fender-mounted solenoid as a relay and added another GM-style solenoid to the starter. If the fender-mounted one has a small red wire coming off the right large copper bolt, you have another solenoid on the starter. If each copper stud has a really fat cable, they're using it as the solenoid.
How many terminals on the unit on the fender, three or four? There's two large copper studs, then are there one or two small threaded terminals? What has no power, everything in the entire car or just the starter doesn't work?