Thanks. These earlier Raleighs have some distinctive features on them. I love the gold lining around the white rear fender tip, and the red-colored heron on the back fender looks like a sketch out of an old manuscript. The Number 35 in the 1930s catalogs seems to be a "sporty" version of Sports bike - wingnuts on the front hub and option of a Sturmey rear hub or flip-flop fixed and freewheel rear.
There are changes in the 1940 catalog, that make the bike less like a sporty bike and more like a budget/simple variation of the Sports line. The chain guard and chain case are optional, the wingnuts are gone, and the whole bike looks like a budget sports for wartime service. It seems to me this bike was produced sometime after Germany invaded Poland, but before the war became "serious" in the west and everyone had to switch to wartime production in Britain.
Interestingly, the crank and spindle are both low-profile types that will not accommodate a chain guard or a chain case. I see no signs of clamp marks where a chain guard or chain case would mount.
This bike came out of Boston, Massachusetts, which makes sense given Boston was the home of Raleigh in America in the early years. It had a the Major Taylor style slide stem and drop racer bars on it. An owner back in the day must have converted it to a performance type bike. It probably was very light and sporty compared to a pre-war ballooner of that time. The immediately previous owner, who also is a collector of old Raleighs, converted it back to stock using a pre-war stem and the long-pullback North Road bars. He was able to solder-up a set of double-ended brake cables for it using the original cloth housings.
This is a fun bike to ride, provided that you remember your cuff clips. It's very simple and the Wright's saddle is very cushy with its three springs. It's likely very similar to some of the kinds of bikes ridden in Britain during the Blitz and throughout the second world war.