Your quilt is a real treasure and I think you are correct as to the approx date. Too bad about the one fabric that has worn out. When cleaning you might want to temporarily baste a piece of fabric over the areas that are open so the batting doesn't come out. There are many reproduction fabrics of that era if you choose to repair the worn areas but I wouldn't do so if you are only going to display the quilt. Appraisers will point out that repairing with fabrics of a later date than the original quilt changes the dating of the quilt. If you choose to repair you could search for vintage fabrics of that time period-they are available. I have vintage quilts that I display that I have not repaired any of the damaged areas simply because I don't "use" the quilts and like seeing that the quilts were well used when they were made.