[Ron Ramirez]

As Terry and Glenn have stated previously, the original volume control potentiometer is 2 megohms, with a tap at 1 megohm.

You may not achieve a reliable measurement of the potentiometer unless you disconnect it from the circuit.

I strongly suggest you invest in a can of Caig DeoxIT D5 to clean your volume and tone controls. Expensive, but worth it. It will clean controls and switches when other contact cleaners fail. And it does not take a lot, nor do you want to spray a lot in each control since the stuff is expensive. Use it sparingly. Follow that up with a spray of Caig FaderLube F5 (for potentiometers and controls only, not switches).

I've found it is mandatory to clean controls and (especially) pushbutton assemblies of 1939 and later Philcos with DeoxIT in order to achieve proper operation. As an example, I have a 41-226 "Sled" with six pushbuttons. They would not work consistently, even after spraying with a contact cleaner. Just a small spray of DeoxIT on each contact restored the assembly to proper operation, and all six buttons work perfectly now.

Now, after all that...if cleaning the potentiometer does not solve its issues, then look at replacement. But try the DeoxIT first.

Oh, and I'll leave this as a separate topic, since we are discussing a specific, important item (volume control).