Don't used WD40. Use 5 or 10 weight
oil. I like Aerokroil, great stuff. It penetrates the metal. Six dollars at the parts store. I not an expert but I think your bearings have
oil on them. I've torn down a few old motors and the bearings had
oil on them. Some had been sitting for 15 years or more.
In my opinion WD40 is good for cleaning stuff but not for oiling.
Maybe some of the motor experts could post their opinion.
Dwight