[WyTex]

Thanks for the help Ed and Mike.  Just to make sure I described this correctly, I'm referring to the plug end that connects to the chassis.  I can see the insulation has worn away inside the bakelite section, it's making some awful crackling noises. I don't see any other way to fix this other than separating the two plug halves?  

Mike - are you referring to the other end that routes through the speaker frame?  There's another type of plug there that seems to have the same issue of exposed wiring.  I had planned to work the plug out so I can run new wires through the frame.