Old American Flyer Train Transformer Model 12B

Hello. This is an old American Flyer train transformer model #12B. I took the voltage measurements at the terminals and they are all putting out the proper voltage. The a/c cord is old and dirty but does not need replacing. T is wear and tear to the case but the top is still in pretty good shape. The green light comes on when the power switch is turned on but the red light does not come on. T is a light the is marked reverse switch and I'm not sure what this is for. Keeping all of this in mind please see image below. Shipping will depend on your zip code.