[RodB]

The band switch selects different oscillator coils for the band selected. I would look for a bad connection in the switch contacts or the oscillator is not operating correctly. When you hear the background hiss and no station it usually indicates that the oscillator quit. You can confirm it with a signal generator tuned to the modulated IF frequency into the antenna. You don't need the oscillator to hear the IF.

With the pointer on the left, the tuning capacitor meshed and tuning the knob clockwise, the pointer should move left to right. If it doesn't then the dial cord is wrapped on the tuning knob shaft in the wrong direction. Or, if you're European leave it alone. (Sorry Peter, Vlad, couldn't resist. )