Just a quick note. I agree about it being similar to Whites of that era. As catsden indicated it is a good machine. Unlike modern machines, these can take a licking and keep on ticking. It looks to be in good shape and it should make a good machine with some TLC and parts.
Definitely do not throw it out.
JoeJr is correct about using tubing. From another forum someone wrote -
You use a small (about 1/2") piece of 1/2" ID heater hose from the auto parts store to restore the functionality to the friction pulley. Shave the hardened, dented old rubber on the pulley down and slide the piece of heater hose on.
The original friction wheels used a rubber that hardened over time. The modern replacement ones use a much harder plastic, that is noisier than the original rubber and has less grip. With the heater hose it's very grippy and so much quieter.
This is the hose recommended
https://www.oreillyauto.com/detail/c...ose/gaa3/28410
You have to buy a whole foot, but will have extra for others and not very expensive to quiet that wheel down.