AM Radio reception fades in in and out

This is probably a very good idea as electrolytics do dry out. FYI, when replacing the electrolytics, please observe these guidelines:

1) Stick with the original values of capacitance (ie: microfarad rating).
2) You can safely choose a higher voltage rating than original if you need to without affecting performance or longevity. NEVER go with a lower voltage rating as it will have a shorter life span.
3) Strictly observe the polarity of the electrolyic device (+ and - leads) or you will blow the device apart with the first application of power and have other issues to deal with.
4) If there is a question about the Equivalent Series Resistance (ESR) of a given device when you are comparing multiple options, choose the lower value one because it filters noise out more effectively.

Geek lesson over.

Electrolitic Capacitors dry out over a period of time. They do not last forever.
Since this is 47 year old radio I would bet it's time for a rebuild.

John D. Beckerley
Austin, Texas