That's because it used to be okay to run a small amount of current on the ground of a range circuit to power the clock-timer, lights, and other small draw accessories. This practice was recently (10 - 15 years ago???) banned by the NEC. You now need to run a separate neutral wire (i.e. four wires vice three). The reason is that current through a wire induces voltage. If someone was to touch the range chassis while also touching some other grounded appliance they could receive a very mild shock. Most of the time this induced voltage would be so low as to not be dangerous (or even perceptable by human). The problem is that if by chance the clock-timer or some other accessory had a fault and drew too much current - there is a chance that the chassis ground could be high enough to be deadly.
I suggest making sure that you have a valid neutral (and ground) if you plan on tapping 120 volt off the existing circult.
My two cents.
VA_Joe