The R50 was originally sold as a "sealed" relay. This meant that you could safely immerse the circuit board in a cleaning solution to clean off the excess flux from a wave-soldering process. They don't build it "sealed" just to keep out dirt and schmoo, but to protect it from cleaning solutions in the pcb-manufacturing process.
Just one problem. The plastic they used for the thing would "outgas", or leach vapor into the interior of the relay. This vapor would build up and then condense onto the contact surfaces. This makes an insulating layer on the contact points causing that circuit to become intermittent.
It's common for the glue to come loose where the top cover attaches to the bottom plate of the relay. So long as this happens soon enough, the life of the relay will be longer than you would get if the thing had remained fully sealed up. Odd, but a poor glue job will make it last longer.
Later production of this part was revised to have a vent hole at one corner, like the one in this pic.
This would prevent that vapor from building up and causing trouble. A small piece of yellow tape covers this hole when the part is made, so you can still safely clean the pc board by immersion. You're supposed to peel off this tape after the part is installed.
What this means to a relay built 40 years ago is that it's a total tossup whether or not it will work reliably.
Have a look at the glue seal around the bottom of the thing. If it's separated, the part may be okay to use. If it's still fully sealed, maybe not so likely.
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