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These old radios are usually built with high quality...replacing the old paper and electrolytic capacitors, replacing brittle old wiring, and sometimes replacing burned or off tolerance resistors should get it going good. Would not recommend operating it on old parts even if it works because you could have a breakdown or short...best to service it even if it works.
Montgomery Wards radios were usually of a medium price range....not usually the ultimate in fancyness but not low quality.
It seems like Philco's can sometimes be a little more complicated to work on...but just about any 30's brand I've encountered has been fairly straightforward to repair.
$125.00 may be a little high...you may be able to find a similar radio for less, but it doesn't seem too bad, especially if there are no other old radios around your area.
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