Speed Queen dryer stopped heating, drum and fan worked OK. Dryer is 5 yrs old and I had replaced heating element about 18 months ago.

I unscrewed heating element and placed it on the tile floor in front of the dryer (still connected). Turned it on for a test and the heating element got super hot and we smelled an electrical burning smell. All coils were bright orange. Tested at least 2 more times with same results.

Suspected thermostat but I don't have a multimeter to test. Disconnected heating element and took it to the parts store where multimeter shows heating element and thermostat have conductivity. Parts guy found there is another thermostat near the motor which I didn't know about.

Went home and removed other thermostat (part #504515). This one has 4 leads instead of 2. Borrowed neighbor's multimeter and the two larger leads on the far end have conductivity but the two smaller leads nearer the middle don't have conductivity.

Just connected everything back up and tested dryer again. No heat on any setting. Drum spins and fan runs.

Question: is it the cycling thermostat? Should both pairs of leads on part #504515 have conductivity? I couldn't find an electrical schematic online for the thermostat.

Any other ideas welcomed. Thanks.