Brian, Try this with
PS 5LE: with your photo open and active, open the layers menu at the top of the screen and choose duplicate later. Next , select "multiply" from the blend menu in the layer pallete( Like Doug suggested) and see how it looks if you like the results press(CTRL and E) to combine the layers. To adjust the tone and contrast you will have to duplicate the background layer again and make those corrections using the curves and levels routines.
PS 5LE doesnot have adjustment layers, as Mig indicated, but over all is a robust and useful program for doing retouching work. Except for "razzle-dazzle" stuff, it does an excellent job. Good luck and let us see what the finished result of your work is. Thats an very fine old photo. Tom