Tazz it sounds like it's all low-impedance - he hasn't mentioned anything about a 100V line output from the amp but did say the output was stated as '4.8Ω'. I think this might be an error and should read '4 - 8Ω', i,e, 4Ω minimum. As such it is as likely to be a domestic style amp as a commercial PA amp.
Luke, some pics would be helpful, especially of the horn drivers. If they are connected directly to the low impedance (i.e. 4Ω or similar) output of the amplifier, they won't have transformers. In this case, you can take a resistance reading directly across the two terminals on the driver, which should be something below 16Ω. If the two terminals are on opposite sides of the driver body, this suggests they do not have transformers. Incidentally 150W rating is unusually high for ordinary horn speaker compression drivers and I am suspicious that they are not what they seem.
Are all speakers connected in parallel to one 2-core cable? Seven 16Ω speakers in parallel will load the amplifier with 2.3Ω which is too low for a 4Ω output, although as at least one speaker is working the amp seems to have survived this. Or are both channels of a stereo amp used, feeding via two 2-core cables? In any case, you should be able to do continuity tests from the amp to each speaker. One other remote possibility is that they are connected in series-parallel, although the odd number of speakers suggests not. However if there were once 8 speakers, they could have been connected to present an 8Ω load to the amplifier. This would mean that any open-circuit speaker would prevent its series partner working.
If the cable goes into a deep removable can on the back of the driver, there is probably a transformer inside it. In this case, measuring the resistance across the cable does not tell you whether the voice coil of the driver is intact, as you will be reading the transformer primary as Tazz mentioned. For 100V line working, the amplifier must be a proper PA amplifier with a 100V line output and the speaker feed will be connected to the 100V and common terminals.
Re polarity - loudspeakers will work with either polarity but they should all be the same. If any speakers have opposite polarity relative to others nearby, their sound waves will tend to cancel out and cause quiet spots instead of reinforcing each other.