If you've got voltage at the collector, the power supply upstream of it is OK. Transistors work more or less like a relay. Power in on either the emitter or collector, and out on the other. Which way round depends on polarity and transistor type. This one has pos input on the collector, pos out on the emitter, and its switched by the base. In switch duty, the output terminal voltage is usually fairly close to the base voltage, so it makes sense to see 14v on both emitter and base. You'll need to chase the circuit back from the emitter and find out whats going on.
If this is the B+ delay, its probably being driven by one of the smaller transistors next to it. Taking a guess at it, it may be a simple resistor-capacitor delay circuit. Basically it charges a cap through a resistor, once it hits the right voltage, the small transistor turns on, which turns on the larger transistor. Open resistors or bad caps in that circuit could make it not go. If the small transistor is pooched, that would do it too. For what they are and what they do, you can easily verify them with a volt meter on diode check. The Great Google will provide pinouts and destructions but its dead simple, and plenty accurate enough for this sort of thing.