I haven't written any Algol 60 code but from a cursory look it doesn't look too alien. The keywords and basic concepts look similar to those in modern procedural languages. So, depending on the complexity of the original code, perhaps trying to translate the code without any previous Algol 60 knowledge might be a viable approach, too.

Other than that, this sounds like a problem that could be solved by pairing an Algol 60 and a Ruby programmer if you can't find someone who knows both languages.