[Joeztech]

Yes, small value (less than 100pFd) capacitors have to be measured very carefully, often it becomes necessary to remove from circuit and use the shortest leads possible. Any lead capacitace value needs to be zeroed out before measuring the capacitor. That particular cap may be a tubular ceramic that has been dipped in an epoxy coating, then painted. There were a number of low value capacitor types used in that era.

Joe