Hi Melanie:
If your Truphonic sound box (reproducer) looks like this one.....................

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...................the gaskets referred to hold the diaphragm in place.
The diaphragm, which is a very thin aluminum disk, sets inside the shell of the sound box, and is connected to the needle bar, which in turn, is connected to the needle via the thumbscrew. When a record is played, the back and forth movement of the needle as it tracks the groove causes the diaphragm to vibrate. This moves air in the tone chamber (tonearm and horn) and that's what generates the sound.
If the rubber gaskets holding the diaphragm in place have turned rock hard, then the movement of the diaphragm will be restricted, and the added resistance to the needle's movement can cause the record to slow down.
Along this line, needle bar, itself, is held in place with set screws. If the adjustment is too tight, the needle bar's movement can be restricted to the point where it will not track a record properly.
This type of sound box--from the later 1920s--can be very tricky to work on, especially if you have no experience with it. For one thing, the case is made out of pot metal, and can easily crack apart if you're not careful. Also, the aluminum diaphragm is EXTREMELY fragile and can easily be torn or dented. I'd recommend sending it to a shop for an overhaul. This is not cheap, but it's worth it in the long run since it will reduce record wear, and in most cases, vastly improve the sound quality of your phonograph.
I'd suggest you get in touch with Great Lakes Antique Phonograph --
http://www.victroladoctor.com/ for starters.
Truphonic phonographs were sold exclusively by Sears and Roebuck, starting around 1926. They were designed to compete with Orthophonic Victrolas, Columbia Viva Tonal models, and other acoustic (as well as all-electric) phonographs that were specifically designed to play electrically recorded records (introduced in 1925) with greater fidelity than the older models could.
If you have a chance, please post some photos of your machine.
Joe