This sounds like a situation where someone should get ahold of the original reel-to-reel recordings and get all the original tape put onto something more long-lasting, such as DAT, or CD. In fact both would be good for that purpose. Then someone could edit the cuts and sweeten the audio.
Some years ago when I bought a bunch of Elwin Puringtons reels, I paid an outfit to sweeten them as they were put on CD. They can cut out some of the hiss and so forth. Now I have them all on Digital Audio Tape, and with a DAT player can use them in a digital system.
I recently tried to work a deal with a well known museum for some steam audio, but alas they turned us down, and the audio will likely never see the light of day, unfortunately. Someone once said,"Never give your stuff to a museum cause it will likely just go into a big storage room someplace". Sad, but probably true.
People should be aware of how rare old 50's audio of trains is. There were no real portable decks in those days, but these big moster units with rigged cables to power them off the car batteries. When someone asks if some films from the late 40's and early 50's have sound, I have to laugh. Basically they weren't really invented until the late 40's for personal use.
Anyway, I hope someone can save the audio reels. Same for old films which are just as rare.
Greg Scholl