[Supras] Speedometer problem

[JAMES]

   When the temp is very cold my speedometer will make a loud violent screeching
  sound and the needle will jump up to the 150mph area. It will do this for about 30
  seconds and the noise goes away and the needle comes down to the correct mph.
  It done it this morning and it did not stop untill I got to where I was going. (5 min.drive)
  And later in the day when I drove it again the speedometer did not work at all.
  Has anybody seen this happen before? Is it the meter or the cable? 
   My 89 turbo has over 240000 miles on it. I noticed that the cruise control does
  not work without the speedometer working. Any suggestion or tips would be appreciated.
   I probably could find another meter but I was hoping to see 300000 on this one someday.
   My Supra had about 150000 on it  when I got it.
                                                      Thanks,
                                                                   James