Ive been told that electrons move in a motor causing magnetic lines of flux and with the interaction of counter electromotive force cause motor action, while homo-trons are responsible for blowing fuses.
Given the age of the elevator, maybe it is broken down insulation. The varnish on the windings breaks down and as the other people point out, you are better off having someone with the tools to Meg the wiring and insulation than trying to fix it yourself.
Simply stated, they go up they go down the doors open and the doors close. The heart is just a sodium pump, and yet, we don't do open heart surgery with out a medical license and proper training.
Maybe you would care to post pictures of the controller, the motor and the machine room. That would certainly help in identifying the current condition of the job.
Please also check with your insurance provider to assure your family has proper protection before you proceed any further. Too many people are killed in elevator accidents each year, most of them are people working on elevators. Most recently as I recall in Florida.
Respectfully,
Robert L Krieger Jr.