John, the amps are not the same, at least in the power section. Both continentals had 6973s as final and the L-up had 7868s. In common they both used the center speakers (front woofer and tweeter) wired across both channels for mono output.
--This requires that the phono cart be wired out of phase--
With a record playing remove one of the RCA plugs coming from the tonearm. If phase cancellation is occurring from a normally wired cart some sound will appear in the center speakers. The cure here is to reverse the leads on one channel at the cart. While you are at it, try just one cart plug in each of the input jacks to make sure that both channels are at least producing sound
I've owned Continentals 1&2 along with an "L". Electronically it is certainly possible to modify a later amp to fit a Continental, the mods involved are no big deal. However, if using a preamp from one model with the power amp of another some changes to the interconnect between the two -may- be necessary.
If the above test does not reveal an incorrectly wired cart, you will have to dig into the amp and pre.
If you don't have a schematic, go here:
http://www.verntisdale.com/AMIschem.htm to D/L one.
Start with tracing the center speaker wiring back into the amp and to the output transformers.
There are also RCA jacks on the main power amp. These are directly coupled to the output from the preamp and can be used for testing whether there is audio from the preamp.
Another area to check is the volume control. It must be dual section. The original continental used 5k-ohm pots and IIRC, beginning with the "L" 10k-ohm pots were used.
What tools do you have? A decent multimeter is essential here.
There are other points to get into, but try these basic steps first.
Rob/NYC