Hi!

Another rookie question for everyone! I have just begun re-capping my Philco model 40-195. It has two electrolytic capacitors according to the schematic. I replaced one of them with little difficulty. However, the other electrolytic is stuffed inside a metal can with a single positive lead connecting to the power supply. The can itself acts as the ground for the electrolytic. How do I replace this? The replacement cap I have is a radial with two leads. Can I connect the positive lead of the new cap to where the old one connected and then solder the negative lead to the chassis to provide the ground? Or should I try to re-stuff the can with the new cap and solder the new cap's negative lead to the can? I'm completely lost with this one, so all help is greatly appreciated!

Yes, you can connect it that way. It will work just fine.