I replace the last two wax capacitors then test the radio's operation. Following that, I review the alignment instructions which contain some interesting guidance from the design engineers.
So the engineers who decided that dual 4uF electrolytics were enough noticed that the B+ voltage produced by the transformer was too much unless more resistance was added using the complete circuit know as a pi network. If you unplug the speaker it would remove the field coil so there goes the electrolytics since it had no fuse at that time. They would be smoked. To protect the radio now replace the electrolytics with at least 10uF to 16uF ( not 40uF) and fuse the line cord. Do not attempt using a CL series current limiter for this application! 1.The bias cell can be replaced by a watch battery (392) with + side to chassis ground. 2. You could add a resistor in it's place in series with the 500K Ohm (R12). Trial and error method it with a 500 K pot and see where you get a positive sound outcome when adjusting the volume control from silence to maximum output. Make note of the resistance of the pot's resistance with an Ohmmeter.