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The reed valves have nothing to do with compression in the cylinder.
You have a problem with --Bottom carburetor ( high speed jet ) might be plugged.----The jet is in the carburetor bowl.---Bottom crankshaft seal.-----Bottom cylinder sleeve out of position.
What did you find with the reed valves that you replaced ?-----A leaking crankshaft seal has nothing to do with compression in the cylinder.----Please state clearly which cylinder is not working.----In one post it is the top cylinder and another post it appears bottom cylinder is not working.----If a cylinder sleeve rotated the compression would still show good compression.
Trouble shoot as per post #8