[Jeffhs]

Your console will be a fine addition to your collection once you get it working as it should. The hum is almost certainly caused by bad filter capacitors; I wouldn't run the set too long without replacing them, as shorted filters can damage the power transformer and/or the rectifier tube(s), if the B+ supply is not fused.

The bright horizontal line across the center of the CRT screen means there is no vertical sweep, and is likely caused by either a defective vertical oscillator or output tube or an open vertical output transformer. Do not operate the TV with just this line on the screen, as it will burn a permanent mark across the center of the CRT. If you must operate the set for testing purposes, turn the brightness control all the way down so the line is not visible.

I would replace the vertical tube first, as defective tubes account for eighty percent of all problems in tube-type televisions. In the unlikely event that this does not restore the sweep, use an ohmmeter to test the windings of the vertical output transformer; odds are one winding or the other is open. There is also a chance that the vertical height and/or linearity controls may be open or intermittent. I'd clean every variable potentiometer in the set, and the tuner, with Deoxit; this may well be the first good cleaning these controls have had in the set's entire life.

Good luck, and enjoy your Olympic console once you get it working at peak performance. I salute you for taking an interest in restoring this old set, and saving it from certain death in a landfill, although these days I'm not sure it's even legal to simply put out old electronics in the trash. Some states, notably California, actually impose a charge for disposal of what that state calls "e-waste" and probably does not allow the disposal of old technology simply by putting it out on the curb. In my area, a small town 35 miles east of Cleveland, I see very few old TVs on the curbs; the last one I saw was a Westinghouse-branded 24" flat screen behind my apartment last year.