New Project: 1948 or 49 Schwinn New World

 This new project is a 1948 or 49 Schwinn New World. I suspect it is a 1949 bicycle, based on the very late 1948 Sturmey Archer medium ratio AM hub. Seller's photo:

New World bike E55712 is a standard men's frame, dark red example. It looks to be in the 1948-49 date range. It has:

Electro-forged bottom bracket shell
Standard pitch drive train
One piece crank
Mesinger Slide rail saddle (the balloon style one)
Standard type post-war fender braces
Front and rear hand brakes - "Schwinn Built" calipers with Schwinn type levers
Dunlop EA1 / 26 x 1-1/4 stainless rims
British-style wing nut front hub
December 1948 Sturmey Archer AM medium ratio 3-speed hub
Galvanized spokes
Hockey stick chain guard
Chain guard has the brake cable housing loop for the Schinn unisex rear brake routing
standard New World round head badge

This is the first New World I've found with British clubman style wheels. I thought they were 1960s replacements originally, but then I noticed the 1948 AM medium ratio hub and the old-style Dunlop stainless rim imprints. The wing nut front hub is another odd addition. So perhaps someone special ordered a somewhat sportier New World. Kind of strange to stick to the one-piece crank with all that though. 

The bike also has the best preserved set of Uniroyal chain treads I've ever seen on a 3 speed bike. They were nice tires, but nylon cord, so probably somewhat after the bike was made.

My first evening of work on the bike was to start disassembly for cleaning and repairs. My first repair was to straighten prepare the front brake caliper for rust removal. 

I also made the unfortunate discovery that the stem has a hairline crack starting at the shank, down where the stem is hidden when installed. I will replace it with an original 1940s Wald "knuckle" stem.

So the process begins... I originally was just looking for a dark red companion for my black 1947 New World, but I think I stumbled onto something a little more unique, what with the British clubman style wheels and the medium ratio AM hub. I'm looking forward to this one.