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
Smoke coming from transformer means........anyone?
Found an old tube rcv. turned it on and it started to smoke. I noiced the transformer was extremely warm. Will I cause any more damage turning it on? Shiould I replaced the transformer or junk it? Anyone able to help me?