The next task was to replace the electrolytic capacitors in the power section. Per the schematic there are four 2uF capacitors. In the Arborpone 45 these four capacitors are encapsulated in a rectangular container full of tar. After removing the contents of the capacitor container, I installed four new 2uF capacitors along with new cloth insulated wire that matched the original wire in color and size. I did not replace the tar.
I did a check on the other components and found everything else to be okay.
The speaker was missing from the speaker cabinet. After a couple of attempts to get a vintage dynamic speaker to work I installed a modern PM speaker with an impedance matching transformer. I did not do any modification to the cabinet, the new speaker “sled” is mounted using the same screw hole pattern that the original speaker used.