Violating (print) copyright law... your opinions, if you please.

[Mr Downtown]

Unfortunately, there is no clear-cut answer in these situations, which I'm sure frustrates nonlawyers. On the one hand, you have the rather small chance that some successor in interest to the original publisher might want to claim a copyright interest. On the other hand you have the various technical factors cited by JoeH, and you have the various mitigating factors (being done by a nonprofit, tiny circulation, no profits likely to come from the republication, attempt to research the copyright status, fair use factors).

I am not offering you legal advice, but I'd take the risk.