The alternator positive should be red. In a boat of your vintage, it is likely to lead from the alternator to the starter lug where the power cable to the starter connects.
Yes, this doesn't seem to make much sense, but there is a logic to it. When an alternator is producing power, the output needs to go somewhere, i.e., the battery to keep it charged. If the alternator is producing electricity and the load (battery) is suddenly disconnected, the diodes in the alternator over load and get fried. The alternator is dead. Connecting the alt output to the starter virtually guarantees that the alternator will always be connected to a battery through the starter power cable. This reduces the chances of an alternator failing under warranty due to user errors and is a faster cheaper way to install the charging circuit resulting in lower production costs for the boat builder. Good for boat builders and engine manufacturers, not so good for batteries. For boat owners, the system works, just not all that well. It's getting late, so I'll save that explanation for later. Look on MaineSail's site and in his forum, I'm sure there is a discussion there about the pitfalls of the alternator to starter connection.