Very hot transformer at 40V

[ldatlof]

At 40V on my variac the power transformer of a Philco 39-36 radio was way too hot to touch. There is also a funky smell now - this unit does not have selinium rectifier that I can see. Did I burn out the transformer? The pilot light was lit so the PT is still making some power.

If the PT is not ruined, what would be my next step to get this to work properly?

Thanks.