[Ron Ramirez]

I don't have the voltage chart near me right now, but the B+ at the RF plate should be at, or near, the same voltage as that on the plate of the 2nd IF tube with the local-distance in the "distance" position. The signal will drop with the switch in the "local" position since the RF tube's cathode is then connected to ground through (10), the 160K resistor. I would expect the RF plate voltage to be somewhat lower as well when measured between P-K in the "local" position as the Rider info calls for.

Could this be an effect of using a modern multimeter as opposed to the 1000 ohm/volt meters used in 1932?

Assuming both halves of (5) were replaced with new caps...the other (5) in the front end is an AVC filter cap.