I contacted several speaker repair companies and all of them but one said my only option was to send it in for a recone. Ted Weber had one technique to try. I loosely followed Ted's directions and took it quite a bit further. After fixing it, I wished I had taken pics of the process.
Thanks to Old School Dave, I have a couple of 40 watt Sound City cast frame Fanes to try and "Doctor-up". The main difference between these SC Fanes and HIWATT Fanes is the Dust Cap. The SC's had an Aluminum DC, unlike the cloth DC in the HIWATT Fane.
The DC has carefully been removed. With a HIWATT Fane, use a scalpal or razor blade to CAREFULLY cut out the center of the Dust Cap approx. 3mm from the edge. Leaving this lip is important for two reasons: it gives an excellent area to glue the replacement to and you avoid the delicate wires that attach to the cone.
Next loosen the four bolts that secure the magnet to the frame. Leave them barely threaded, but the magnet should have a small amount of play.
Sometimes you may have to remove the magnet completely and clean the cylinder where the Voice Coil lives.
Once the magnet is loose and there is no debris between the VC and the Inner and Outer walls of the Magnet, place card paper shims between the VC and inner wall of magnet.
Place shims in such a fashion that a uniform gap is created between the VC and inner wall of the magnet. 4 or 5 will be enough as the tolerances are tight and it will be difficult to place more than four.
At this point tighten the magnet bolts each just a little at a time until all are finger snug. Then using a wrench tighten each bolt 1/4 turn before moving to the next. Keep tightening each bolt 1/4 turn until all are tight.
Using plain finger polish remover and a cotton swab, wet one or two ribs of the spider. This is a solvent that will allow the spider to set in the new position.
Let sit over night. Place something clean over the VC to keep debris out.
to be continued...
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