Smoke coming from transformer means........anyone?

Cut the output of the tranformer and plug it back in,if it still smokes you found the problem. I found an old philco radio (vintage 1937)in a customers basement. I bought it for $50 and took it home. Everything worked!
Tim Flemke

Lolo- The transformer may still be good IF you powered it off in time and don't repeat the attempt until you have located the real problem. It is likely that the power supply caps have failed with age and are acting like resistors to ground rather than caps. Sometimes they can be "reconditioned", but more often should be replaced. Whether or not it's worth the repair expense will depend on the make/model and condition, including tubes. You could have a nice gem if you can locate a tech willing to give it a decent inspection/estimate for repair. Good luck

Lolo: Be careful, even if its not plugged in tube equipment can carry a wallop!!! Caps can and will store high voltage. High Voltage!! If you are not familiar with tubes/voltage I would forget about doing it yourself. If someone knows more about exactly what you have they may correct me, but better safe than sorry.

We like you the way you are.

Sincerely, I remain

Yes, a Variac is a needed for vintage gear that has been out of service for awhile and/or recapping a piece. I am in the market for good used one right now. As Clueless mentions the caps can hold high amperage charges for long periods of time and you need to learn how to drain them properly if doing the work yourself. I have been shocked through one hand, on through the chest and out the other hand by equipment that has been powered down for weeks. These were "not" Martha Stewart moments, take care and caution.