[Ron Ramirez]

Hello and welcome.

Oh boy, did you select a toughie to repair...

First, let's address that wire looped inside one terminal of the tuning capacitor yet not soldered. That wire should be insulated, and the wire should indeed be looped through that hole but not touching that terminal at all. To accomplish this, the insulation should completely cover that end of the wire - no bare wire showing at all on that end.

You can use heat shrink tubing of the appropriate size to insulate the wire if you do not wish to replace the wire.

You say you replaced the "main" capacitors. Did you replace the electrolytic (filter) capacitors? These, if bad, could have caused your set's power transformer to fry. Another cause of a power transformer failure could be the rectifier tube used - an 84/6Z4, I believe (I would have to go check the schematic, and I'm too lazy to do so).

You will have to replace that power transformer. There are so many of these chassis floating around that you won't have any problem coming up with a good used replacement, however.

You will also have to either rewire or resleeve all of the rubber-covered wires inside the chassis. As you have already noticed from the wire on top of your tuning capacitor, this rubber insulation deteriorates with age, crumbles, and falls off. The loss of insulation can cause wires to short together - which can be yet another cause of your power transformer becoming toast.

Good luck. This will not be an easy repair, but will reward you with a pretty decent radio once complete.