Then re-oil it with a mix of a good furniture oil (compatible with what is on there already) and anti-fungal essential oils of your choice.
I think I would be more concerned about moths showing up in the wool on the bobbins........I use a little lavender oil in any wool that I store. Is the wool moldy or mildewed also? I think that will weaken it.
R Scott wrote:There are a lot of antifungals: tea tree, lavender, lemon, oregano, patchouli, rosemary just off the top of my head. Pick one you like the scent, or a blend--most oil brands sell an antifungal blend. Tea tree is one of the best, but not the best smelling. Lavender lemon with a touch of tea tree is one we use a lot.
Use a wood oil on the wood. Tung, Danish, etc. Or a butcher block oil like walnut or food grade mineral oil.