It sounds like you have either a vertical output failure or a power supply failure feeding the vertical output circuit. The vertical deflection yoke is typically fed through an electrolytic capacitor. This cap often dries up and loses capacitance giving this shrinking picture effect.
Find the schematic and locate the vertical output IC. Measure the VCC to the chip and verify that it is ok. Then check or replace the electrolytic capacitors associated with this chip. While the vertical output chip itself could be bad, I would first suspect the caps.