Read-up a bit on veneer patching...
Short of re-veneering the entire side of the cabinet, there's no way to to make a completely inconspicuous repair... (and it'd be very difficult, if not impossible, to match that old-growth mahogany veneer today, at least to do a whole side...)
That said, something like a diamond-shaped patch centered over the damaged area, stained,and blended-in, then finished, would be a tasteful repair, in the fashion of what would have been done back in the era in which the machine was made.
Victor Talking Machine always prided itself on the quality of their cabinets once they started making them in-house, and it's hard to find better-built furniture from that era.
Since the front legs/pilasters have been re-configured, this machine will always be somewhat handicapped in terms of collector value, but on the flip-side of that argument, it gives you the opportunity to experiment and learn w/o risking harm to a pricey collectible.
