I had a few minutes to dig out the 67 parts, not the 68, but suspect no real difference.
Picture 1 below is of the resistor wire. This is the white dotted wire that is a short jumper (about 10") that parallels the low fuel relay coil. The resistance is 46.4 Ohms (not bad, Randy).
Picture 2 is a quick schematic I put together.
The thermistor, when submerged in fuel, is effectively cooled off due to heat transfer, keeping the low fuel relay de-energized.
When the level is low, the thermistor heat transfer drops due to a change from liquid to air, resulting in the thermistor heating up. As the thermistor heats up, the resistance drops enough to cause the low fuel relay to energize, which closes the contact to the low fuel lamp.
I found two sending units, a C7 and a C8. In both cases they are an open circuit. Before picking up another, I'll set up an experiment with potentiometers and running the system at 13VDC to determine when the relay energizes and de-energizes from a thermistor resistance perspective.
It could be that with no potential, the thermistor is completely open.
Also in regards to the resistor wire, if you are considering replacing the wire with a resistor, I calculate 4.2 watts. Technically a 5 watt resistor would handle it, but you have to consider the surface temperature of the resistor, and what is in proximity that can melt and catch fire. If you look at the wire, the heat is over the 10" length rather than a contained area of a resistor. Also the wire is covered most likely with an asbestos wrap for insulating purposes. If I had to do something along these lines, I would go with a 10W 47 ohm wire wound resistor, and connect to a metal bracket (such as the "Z" bracket) to promote heat transfer, and make sure all other wire and plastic is at least an inch away.