Doubt for being a lightweight, you'll find much difference in the years 1939-41 and reasoning; possibly 42 is because there's no accurate data base albeit, what's availd lists this for 41: G-H letters so an I is newer potentially 42, and without any catalogs in 42 to go by too.
G32427-H93415 1941
Nice bike too! just need the right seat and chain guard and you're set.
1941:
Men's Tourist
Model W1-M
View attachment 617978
Men's Tourist
Specifications
Frame: Finest American seamless drawn steel tubing.
Fork: Double tapered oval to round seamless drawn steel tubing.
Tires: Schwinn Superior 26 x 1 1/4".
Rims: Schwinn Superior.
Front Hub: New Departure.
Coaster Brake: New Departure, Morrow or Musselman.
Chain: Diamond Roller. 1/8 x 1/2" pitch or 3/16" x 1" pitch.
Crank: 6 1/2" offset.
Pedal Sprocket: 46 tooth 1/2" pitch or 24 tooth 1" pitch.
Pedals: Torrington.
Handlebar: Boy Scout.
Grips: Long, black.
Saddle: Schwinn English type Lightweight, or Mesinger.
Guards: New lightweight gothic style.
Chain Guard: Enameled.
Colors: Standard.
I don't think yours was a 3 speed because there's no heavy wear, where Schwinn put the gear shifter but it my be.
Men's Tourist
Model W3MSC
View attachment 617979
Men's Tourist
Schwinn Built
New World-3 Speed
English Type
3-Piece Crank set- Caliper Brakes, Front and Rear
Schwinn Lightweight Bicycles equipped with the 3 speed hub permits the rider to choose the gear ratio best suited to meet road conditions- thus lessening fatigue and adding to the pleasure of cycling. Gear change made while riding by simply operating small lever on top bar.
Specifications
Frame: Finest American seamless drawn steel tubing.
Fork: Double tapered oval to round seamless drawn steel tubing.
Tires: Schwinn Superior, 26 x 1 1/4".
Rims: Schwinn Superior.
Front Hub: New Departure.
Rear Hub: Sturmy-Archer three speed, wide range gearing. Operated by lever on top bar.
Chain: Diamond Roller. 1/8 x 1/2" pitch or 3/16" x 1" pitch.
Hanger Set: Popular oval shaped five pin type, three piece.
Crank: 6 1/2" offset.
Pedal Sprocket: 46 tooth 1/2" pitch or 24 tooth 1" pitch.
Pedals: Torrington.
Handlebar: Boy Scout.
Brakes: Caliper front and rear. Operated by levers on handlebar.
Grips: Long, Black.
Saddle: Schwinn English type Lightweight, or Mesinger.
Guards: New Lightweight, Gothic style.
Chain Guard: Enameled.
Colors: Standard.
Cycelock: Available at small additional cost on all Tourist models.
View attachment 617980
http://schwinncruisers.com/catalogs/1941.html