The wire that is connected to the spark advance lever on the center of the steering wheel is frayed and almost broken down at the far end of the steering column shaft (see pictrures).
What is the best way to repair this frayed wire?
Replace it. It should pull out when you grab the metal button on the insulator.
Ok, I pulled it out and see what you mean. I checked The Filling Station and Early Chevrolet Parts, I do not see that there is an easy direct replacement available. Has anyone had any luck with getting fabric wire loom and making your own?
You can get cloth covered wire from YNZ and Road Island Wire. There may be other places. If you have to pull it the full length of that housing it may have helped to solder the tip of the new wire into the old wire before pulling the old wire out. Pull the new wire in as you pull the old wire out. Sometimes it's difficult to push a new wire through. Probably not though. I'm sure Chip would have mentioned it if it were.
Not a difficult fix if you were able to salvage the fitting on the top end of the wire. It should not be too difficult to push a new cloth wire back down the hole in the steering coluumn. Add a bit of extra to work with on the bottom.
Todd,
What you are calling the spark advance wire is actually the horn ground wire. Ray mentioned the fitting at the top may need replacement. It is a bakelite piece and frequently is found in several pieces. Yours looks to be in one piece but should you run into trouble with that item I can coach you on how to fabricate a new one with simple nylon parts available at Lowes. Save all the pieces until the job is finished and everything is working. Caution is advised when you remove the bakelite piece from the three flat steel retainers that hold the bakelite in place. You'll need to pull those away from the bakelite, but when doing so the steel retainers frequently break off at the lower end 90 degree bend.