You could repurpose that solder for a soldering pot, to tin wires with it or to help you remove components from various boards:
For such applications the flux quality won't matter, as you basically evaporate the flux when you get all that solder melted in a pot. Just move dross aside, shove the wire inside, tin it and you're done.
As for oxides on the surface of the solder wire, I suppose you could get some microfiber cloth and some isopropyl alcohol and drag the solder wire through microfiber to wipe the surface and potentially clean the oxides off the wire. It could be done fast, just take it from one spool and spin the wire into another spool.
Solder from the 50s would probably have not so great flux inside it, but I doubt it would be downright "bad".. after all it should be just rosin