[Arran]

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  It looks like someone recapped your radio back in the 1960s, that was when Sprague caps used those red and yellow labels. Believe it or not they may still be quite viable, they were starting to switch over to using either plastic film as a dielectric, or a combination of plastic film and paper by then. A guitar amp that a friend of mine has is full of caps like these, unfortunately the resistors are badly drifted off spec so the amp still needs an overahaul. However if the values are just plain wrong, such as using a .05 in place of a .01, I would go back to the factory specs.
Regards
Arran