Is there something about them that leads you to believe they might be 1940's? Anything dated?
I was not aware they even had a factory Training School in the 1940's.
I went to the training school at the Schwinn factory in 1958, and they supplied the students with white jackets to wear over their street cloths during class. The jackets had the Factory Training patches. I believe they handed out the Factory Training patches to students that completed the class.
As a Schwinn employee, I helped set up Schwinn's "traveling" Factory Training School in Northern California, and Arizona during the late 1970's, and early 1980's. They still used the same jackets in the 70's and 80's.
I would think the value is in the patch, as I don't see any way to document the true age of the jackets, or even if they were from the Service School. The jackets were just your normal commercial laundry clothing.
John