Does the slide go into battery (all the way forward) after the first shot?
I suspect Don is on the right track. The reason why the shell is not ejected is probably that the extractor hook hasn't engaged the rim. One reason for that would be that the slide is not fully forward, and that would prevent the hammer from hitting the firing pin as well. The hammer will drop, but will only hit the bottom edge of the slide. The disconnector should disengage the sear and prevent the hammer from dropping, but it's an old Ruby so who knows.
Sounds like a recoil spring problem to me, it could be too weak (or even too strong). Also, it could be caused by "limp wristing". The slide won't reciprocate properly if you don't hold the gun firmly enough when you shoot, and this could cause similar problems.
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