Normally I would say this is the typical stuck in two gears at once problem. However, 1st and Reverse are on the same slider gear.
You can't be in 1st AND Reverse at the same time unless something is really really wrong in the transmission.
Are you SURE that it's 1st gear you're shifting into? Could it be 3rd?
I guess it wouldn't hurt to try the stuck-in-two-gears-at-once cure. You need to remove the shift lever, and look down in the hole. There's three shift rails in there. Use a big screwdriver to pry all three back to center.
The ball on the end of the shift lever is worn after 60 years of use. You can build it back up with weld and grind it down to fit.
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