Hi Martha,
Albums from that period have photos that may be held in place by paper photo corners or a glue. There are different types of these albums, some actually used a ribbon or cord to hold the pages & covers together. Some were bound. All are delicate & do need to be examined by a conservator or trained specialist for these objects. There are two key comments here that are of concern.
The odor of cedar is the VOCs off-gassed from the wood where the album was probably stored, such as the ubiquitous “cedar chest” “hope chest”. These have been absorbed by the pages & covers, as these materials are usually organic (paper, cellulose, leather) & porous. This may also be absorbed by the photographs themselves, so this is not a DIY type of project, other than simply keeping the album open in a dry, cool area away from direct strong light. This will take a while to dissipate, but to what extent is unknown.
The most concern is the “basement mildew” smell. Mildew is a form of mold, usually found in damp areas & on plants outdoors. It is a flat growing fungi that are “powdery” or “downy” & distinguished by the color. In advanced stages, they both end up brown to black, & look similar to black mold. Mildews usually cause allergic reactions. However, mildew can be a health hazard: some sources state it can grow in the lungs. Only a specialist such as a microbiologist or mycologist can identify the species.
Because the album has a mildew smell that is strong enough to bother your patron, I would recommend seeking professional advice for this item.
Hope this helps.