With wiring that old and by the questions your asking you really need to call a real electrition to come look this over and do it for you.
Something that old will need all new wires from the pole, new panel and all new wires.
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You need a disconnect as close as possible to where the power feed cable enters the house. 75' away is too far. You need a disconnect. You can get a meter pan with a disconnect in it. Then you won't need the disconnect inside.
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