Like Macy writes, the motor and lights is a later addition, maybe a convertion at some point in the 1950s. The motor and light are safe when checked, it's mostly about the insulation on the wiring. Motors run lighter when lubricated, and your motor might have oil points. Some one of my 1950s Singers have oil points for the motor, very tiny pin holes near the motor bearings. My older machines have grease wicks and really should not be oiled at all. I have to admit, I have added a single drop of oil down the wick, just to soften up grease and hopefully something reaches the motor axle and bearings. It's a major crisis if the oil seeps along the motor axle and reaches the conductor parts, just one drop and maybe a second drop later on if the grease wicks are very clogged up. Don't do any more until the motor has been opened, then it can be properly cleaned and greased.
Motors can run hot, especially in summer. Take a break now and then. There was a lady who said she did one bobbin and had a few mintues brake before the next one, it seem to work well. I have spent hours with the machien with out much break at least two bobbins with sew all thread, 4 with top stitch weight, and not had any issue with heat, but I sew clothes and don't get the continuous running you get when quilting. Just have in mind the heat it normal but should be left to cool down before it gets unreasonably hot.
Pedals can have issues too and need sorting out, you will notice. There's quite a few threads on it. When the wiring is checked, capacitors in the pedal are removed, everything sorted out, the motors and pedals are up to todays electrical standards. Very few of them are grounded, most have double insulation even those with out the double square sign. You cannot use them in a wet room like the bath, laundry room or next to the kitchen sink
