For a stock 67 cougar, Circuit #262 brown wire needs to be connected to the I post on the starter solenoid (assuming of course the PO didn't hack the entire ignition circuit which we know the PO has done in the past since you say there is no circuit #32). Circuit #262 will be powered from the Starter solenoid directly when cranking the engine.
Circuit 262 then goes back to the firewall where it connects to the ignition circuit's #16 (red-green) which goes to the coil, providing power when starting. (Note: the power draw by the starter motor consumes 100+ amps and thus power provided to the I circuit will measure roughly 9 volts, not 12 volts. This is why the resistance wire is bypassed during starting and not to give a brief 12 volt jolt to the ignition systems when starting!!!!)
When the car starts and you return the ignition switch to the "Run" position, power to the coil is now provided via the ignition switch C or I post on circuit #16A at a reduced voltage of 8 to 9 volts. If you have an XR7, the power from the resistance wire goes to the Tachometer then to the firewall. If you do not have power at the coil in run position with an XR7, place a bypass wire across the tachometer and retest for power at the coil. Note if the car is running, and you put a Voltmeter on the Starter solenoids I post, you will also read 8 to 9 volts because the wires are all connected at the firewall thus backfeeding power from the resistance wire.
Now after re-reading your original post, you should have wired your HEI relay to the C (or I post) because the switch connects the battery power to both the Start and Coil when starting. The Accessory post is only connected to the battery when in Run or Accessory mode. You may want to try this first especially if the circuit #262 is missing at the starter terminal as described above.
Once you figure out what works for your situation, do yourself a favor, document how you wired the relays to the ignition and which wires were removed from the starter solenoid from a stock system AND put it in your glovebox. This way should you need to work on your ignition system in the distant future (hey I'm certain you will get your Cougar running) or the next caretaker of your Cougar will know exactly how your car is wired and why!!!
Coach Jack