On Fri, 14 Aug 2020 05:00:41 -0700 (PDT), "
wrote:

If the cap is original to the motor, replace it. 80 years is a very long time for such a device, keeping in mind that AC-rated capacitors (80-year-old style) will deteriorate just by sitting on the shelf. A modern polyprop cap of the correct rating and voltage will outlive most of us here.
As to the motor itself, do you have an AC ammeter, with specific reference to the clamp-on type? If so, check each leg of the feed - they should be substantially the same when running, and substantially below nameplate when unloaded. If either of those statements is untrue of your motor, it is on its way out, however slowly.

But, to answer your question directly, yes, hot-running is a symptom of a failed cap - as is slow starting and poor load handling.

Peter Wieck
Melrose Park, PA
Yeah, I'm betting that the cap is as old as the motor. I'll take your
advice and replace it. I don't understand how the current can be
different if there are only two wires feeding the motor. What am I
missing?
Thanks,
Eric