I have a similar machine.. An Ex of mine who was into needlecrafts told me that this machine has some value.. yet it sits in one of my closets....
I wonder if scraping the loose finish on the cover then maybe boiled linseed oil? shellac?
The corner looks like someone tried to repair it previously..in the northeast.. there is a product aimed at owners trying to maintain old wooden boats...
Git Rot....
First I would use a pic, and clean all the glue used for previous repairs... then make a damn with some tape... then flood the joint with Git Rot.. and apply pressure with a band clamp...
After the glue sets sand and finish the corner...