Total Paging file size is set incorrect

The size of the paging file in NT 4.0 should be a minimum of Total Ram plus 11 meg. Your paging file is way small. I usually set my paging files to 128-150 meg unless I have a lot of RAM.

Try adding 12 or more to the total physical memeory you have in the pc. This is a good place to start.
(exp. 196 megs of ram, a page file on the c:\ will read about 210

Try moving the paging file to another drive is one is available. If there is another drive available that does not contain the system partition that would be preferred. A paging file size of ram+12megs is a good rule of thumb. Ideally if you can break it up across different drives, other than the drive with the system partition, it will increase speed. (Set the initial size and recommended size to the same to keep NT from having to increase the size in the future. Microsoft recommendation.)

Also: Always set the paging file to fixed size. I.e., NT will let you specify "128 - 150 MB". Instead specify both the minimum and the maximum to the same size.

Actually it seems you are low of space in drive c. Windows NT needs and it is mandatory to have pagefile of the size same as the RAM in the c drive for crash dump. You can have a total pagefile size of RAM + 11MB or even more if need arises in a system across all the drives but you should have a minimum in c drive as a mentioned earlier. The performance of the system with your applications running has to be observed and increase the pagefile size as and when it is neccessary.
Best of Luck.