Joe, if the pics didn't load for you, you didn't see the cords.
They're clearly shorting together.
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I wouldn't run that until the cords are replaced. I agree with Joe though, oil the dickens out of it first.
The wiring is easily done. I'd even say easier than the wood.
The wood can be done with Hide glue and clamps. The metalwork for the case can be had on eBay or Bonanza.
Done right, I'd be shocked if you were more than $60 into the machine, even finding a blackside front slide plate. (of course, I haven't priced the slide plate, but I wouldn't expect them to be more than double the cost of regular?
Assuming you have the clamps already:
Slide Plate - fleabay or Bonanza
Cordset - Sew Classic
*18Ga wire- Sew Classic
*wiring terminals (I can't remember the right name) - hardware store or harbor Freight, etc.
*Hide Glue - more period correct, wood glue might be OK? - I got mine at a concrete shop!?!
*TriFlow Oil - Sew Classic
*Singer Lube (for the grease ports in the motor) - You're in the US, I don't know where you get that anymore.
Hardware for the case - fleabay or Bonanza
All the items marked with a * are things you will use for other machines or uses around the house.
What else did I miss?