@David Johnston and @Chuck Sartor Thank you for the tips and suggestions.
Resistance between the 2 power cord prongs is near zero, as it should be. No measurable resistance (2MΩ setting) between the power cord prongs and any of the terminals or wiper arm. So far so good...
@Ken Wing and @Mallard4468 Thank you for the encouragement.
After the resistance checks, I opened it up. I was pleasantly surprised to find that this one has no tar like substance inside. The windings are actually coated with shellac. Maybe this one was made towards the end of the pre-war era?
Everything actually looks pretty good inside for being at least 85 years old.
Here are some pictures of the insides (click to enlarge):
After tightening the loose retaining nuts on the binding posts, I looked online and ordered these items to replace the line cord:
and
Once these parts arrive, the rest should be fairly straightforward. Thanks again for the assistance.