12 ohms is reasonable for an efficient cone speaker advertized as "16 ohms".
There's DCR plus everything else IN SERIES. So the audio impedance is always higher than the ohm meter says.
> I thought the tweeters pick up where the woofer drops off so it would be a 16 load total.
This is correct.
With the cap, the "tweeter" is over 1K at 20Hz, over 100 ohms at 200Hz, doesn't get close to speaker impedance until 1K or up. So at least 20Hz-1KHz, it's just the woofer.
If woofer and tweeter were both -perfect- 8 ohm resistances, you'd have 8 ohms at low frequency and 4 ohms at high frequency.
If you cared, you'd put the opposite reactance, an inductance, in series with the woofer. You can hit "perfect" 8 ohms at all frequencies.
Real woofer impedance, as Frankie says, "varies with the frequency (inductance)", generally rising above 1KHz. So as the cap lets the tweeter load the amp, the woofer's inductance is un-loading the amp. The woofer and cap+tweeter together can make a pretty constant impedance.
And tube amps such as this probably was are not that fussy. 10 or 20 is all the same for a "16" tap. 8 or 32 won't hurt nothing.
In hi-fi, I like 1.2 multiplier. 6 or 7 ohms DC is surely "8 ohms" on the spec-sheet.
For high-efficiency speakers, PA and such, 1.3-1.4 may be more likely. Even up near 2 in the most extreme cases.
Either way, unless you suspect the speaker was made to an oddball impedance (or weighs 30 pounds), just round-up to the next common number. 12=16.
> an impedance of 16 ohms could include 0 ohms of resistance...
Zero DCR, in our dreams. Or nightmares. We would really like the Acoustic Resistance (actual work done on air) to be much larger than the copper-loss. That never happens. The best are a few extreme horn-loaded drivers which are 9-10 ohms of copper and show 15-20 ohms in the 500Hz-5KHz band WHEN coupled to a good horn. What we get with cones is (neglecting bass-rise and inductance) is like 7 ohms copper and 0.5 ohms actual work against the air.