How to identify wires

[WorthFlorida]

If the meter blades show no signs of corrosion, don't fix what's not broke. There are millions of homes with meter boxes more than fifty years old.

 

[AlfredeNeuman]

With single phase circuits, the cable between the meter and the first panel is only 3 wire.
It sounds like the cable you're using is for a 3 phase panel with a reduced neutral.
Ground wires are green or bare, not white