The "World" winged graphics are common for the early-mid 1950s lightweights. Just because a bike has the "World" graphic does not mean it is necessarily a "New World" bike. The Varsities and Travelers certainly had them as well. "World Traveler" and "World Varsity" are good names for the bikes to differentiate them from the later "Varsity" and "Traveler" series bikes.
Also correct is the reference above to brazing. The joints shown here at the bottom bracket as brazed - steel tubes are joined via melting a different alloy with a lower melt point than steel and building-up a joint using that softer, lower melt point metal. Some of the joints on these frames are electroforge welded whereas some of the joints, such as those at the bottom bracket as highlighted above are brazed.
The joints above are not really ugly so much as they are not totally filed and dressed. The steel tubes are cut and mitered/ended so that they fit together snugly as a dry fit. Then the softer, lower melt point alloy is introduced during a brazing process where by the alloy melts and fills seam between the mated steel tubes. More brazing material/alloy is added until you get the "fillet" of material, which is what you see as the little cone around the joint. Once you have the fillet, you have a workable joint. The question is how much finishing do you want to do to smooth the fillet. A high-end frame builder in those times would file and then sand down the joint until it's smooth and streamlined. But here, we're dealing with a mass-produced utility frame and a brazed joint down low on the frame where a customer is not going to be too picky. So the finishing work done is less involved. Look at a 1940s Continental around the head tube fillet braze joints if you want to see cleaning joints. They did smooth those much better than the joints shown above.
The reasons for why one would fillet braze rather than weld a frame are another subject for another thread. But it's not uncommon that a frame of this vintage would combine electroforge welding for some joints and brazing for others. They're nice frames overall.