jlkonn....The tracking adjustment on the early Sears bandsaw is a knob on the back, near the blade. It tilts the upper wheel, which moves the blade in and out. If the lower (drive) tire is loose or stretched, you will have to glue it or replace it (same with the top tire) Fix the belt first, install a blade and try to track with the knob. It must be running when you do this. If this does not work, either the blade is too tight, welded crooked, or the wheels are crooked horizontally (new bearings...but not likely) or bent, also not likely unless the saw was dropped during moving. Also, if the wheel tire is covered with sawdust or is grooved a little you can sand the tire while it is moving (be very carefull) until it is clean. The bearings just behind the blade are adjustable (thumbscrew) as are the guide blocks (allen wrench). You want the bearings to spin as you push the wood through the blade. The guide blocks should have some clearence and be adjusted so that they are just slightly behind the teeth on the blade. This is to keep the blade from wandering (cut to the right or left). Try fixing the tire and a new blade but not the ones sold by sears. They are too thin as I remember. You can get one at tool store or at a place that sharpens blades. Hook tooth, 4 teeth per inch is standard for wood, but for balsa you might want more teeth per inch. I'm betting on the tire and then the blade. Hope this helps....Dave BTW..parts are not availble from Sears anymore. PM me if this does not work.