A Nice Clock... And a Note Of Caution!

I picked this sweet clock up last week. This is just the way I got it, and as you can see, it's in great condition, but missing the setting stem (and the condition of cord, which I will get to in a second). It's got great color, and a great deco look, and the dealer plugged it in to show it worked (shudder). The pics were taken in my wood shop, which is where I bought the clock for.
But...
I took off the back to see if I could figure out what was up with the setting stem, and about jumped out of my skin when I saw the wire! It was just as you see it. Someone had noticed the cracked insulation, I imagine, and cobbed a newer cord on to the old one. Please notice the condition of the insulation in the second picture, and you can see why I shudder when I think that it was plugged in like that!
So, the note of caution... No matter how clean an item looks, if you're going to plug it in, check out all the wiring, sockets, etc, or have someone else do it. I'd hate to see someone lose their house and collections because of something like this!
Thanks for looking!