The 1931 electrolock only has three terminals, not four. The fourth "terminal" that you see is actually a blind hole that connects to a ground tab on the inside of the electrolock.
When turning the key to the right and releasing, the key should spring back to the vertical position on it's own if the lock cylinder is working correctly.
Once the lock cylinder is removed, then you can remove the plunger assembly, the coil spring, and the flat washer (if your electrolock has one).
To remove the internal wire, you must remove the shrink ring that is on the base of the lock cylinder and plunger housing assembly and then remove the housing assembly and one terminal block. The other terminal block will remain because it is soldered to the internal wire.
The terminal stud retainer, the terminal stud, and the spring/brush wire all must be removed from the distributor end of the electrolock before the wire can be removed from the lock cylinder end of the electrolock. There is a solder terminal that is soldered to the internal wire that must be removed as well before the wire can be pulled from the front of the electrolock cable. After the wire is removed you can also remove the Bakelite insulating cylinder that is in the end of the electrolock cable.
Keep in mind that there are two fellows on this site that can restore your electrolock for you if needed.
