Your local starter shop should be able to refurbish the motor. I recommend
that you disassemble the geared bits yourself before handing it to them.
If the motor is wired with fabric-covered wire (probably is), then you may
not be able to determine the colors after disassembly, so you might
wish to add your own markings, temporary or otherwise.
The usual failure mode for these things is that the 40-50 year old grease
gets overly thick and jams. You may have to use a sharp tool to dislodge
it all! After you've cleaned, use a good synthetic grease (I like RedLine,
but there are lots of decent brands) which shouldn't suffer the same
fate, at least not as quickly.
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