In old buiding condo conversion, builder has left an exposed fabric wrapped wire (circa 1930's?) hanging light fixture in shower stall with exposed light bulb. It is in a slightly- recessed shelf area, but is within reaching distance from water source and is less than five feet from the shower floor. In my opinion, this is an electrocution chamber! Please help--citing codes, etc. Thank you in advance.

I am not sure what your question is but yes this would be a serious code violation and should be corrected. Do you know if the contractor put this circuit on a GFCI breaker?

GFI breaker or not, this is a SERIOUS violation. You should not need to quote this clown codes, he KNOWS it's wrong.
If he is no help contact your local building dept and inform them of the situation. I'm sure they'd like to know about this.