I've never had a 504, but it sounds like you simply have a slightly loose alternator belt. You need to loosen the mounting, adjust the tightener, and re-tighten the mounting. You should check that the belt hasn't become "glazed" from the slippage; a new belt might be in order.
If the belt is sufficiently tight but you still get the squealing, you probably have a bad pulley which would require more serious work.
fs
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Received on Tue Nov 22 06:04:14 2005