That's like taking a car in to a mechanic and saying "it makes a funny noise and it won't run". Could be any number of things wrong with it, and will cost you more than you are willing to put out, unless you get more specific as to what it does(or doesn't) and when, what function is on, how the pots, switches are set, what you were listening to at the time, left and right speaker, or just one or the other speaker, or the noise came out of the receiver itself.
also one more thing, put your location in your profile, so we know where in the world you are. It kinda makes it easier to reply and carry on conversations.
One last thing......WELCOME TO AK!
DO NOT PLUG IT IN UNTIL We are ready to perform some diagnosics.
Build yourself a DIM BULB TESTER. You're gonna need it to keep from making a boat anchor of the 500-TX.
CAREFULLY open up the TOP and BOTTOM cases, put the screws in baggies, and mark them. Then take pictures of the top and the bottom of the unit with all the parts showing. I particularly want to see the power supply board. That's the BIG BOARD underneath, between the back and the BLACK RECTANGULAR BOX (POWER Transformer). Take Closeup of any scorched areas. DO NOT REMOVE PARTS or DISCONNECT any Wires UNLESS DIRECTED TO.
POST THE PICS:
Then give a detailed synopsis of what happened. FOR EXAMPLE.....it was running playing FM Stereo, Volume @ 2, Tone controls centered, Loudness off. Tuner was in Manual mode (there are also Preset, and Auto Scan). When I heard a loud Screeching sound from BOTH Speakers for about 3 seconds then all was quiet. I turned it off immediately and unplugged it. I noticed no smoke or unusual odors from the receiver. The heatsink and the transformer were very hot to touch.
I checked the fuses on the power supply but they were good by meter, out of circuit. END EXAMPLE
This tells us that the idle voltage and bias are WAY OFF due to the excessive heat from the heatsink and the transformer is laboring due to excessive load. There are a bunch of things that can cause this, the chief among them is dried out caps. They in this case would need to be replaced on the power supply and the large 1500uf cap next to the amps. Plus replacing the small caps and other parts on the power supply. then once we got the power supply under control, we'd use the Service Manual to set the idle voltage and bias. This will cool down the heatsinks, and the main output transistors.
Then we'd concentrate on making it able to last the next 20-30 years without problems, by replacing all electrolyic caps, and other parts. They are just plain worn out. FISHER Designed these to run HARD at the edge of the envelope for the transistors of the period. New transistors are heavier duty and won't run so hard, while putting out everythig that FISHER designed into the unit.
It ain't gonna be cheap. But where else can you buy a TOTL receiver from a Major US manufacturer and keep it running to spec after 43 years. Follow the directions and you'll end up with a functionally near new unit that will play for decades without problems.
Larry