1949 Shelby Cadillac info sought?

[GTs58]

That paint looks like a candy that Schwinn started to use in 1954. The red color it completely fades out. That bike might be later than a 49, try 1955.

 

[Freqman1]

The bike is a 1949 per the data plate.

 

[John D. Williams]

It seems this Shelby is much like this S23 model from the 1949 catalog, but a different color and headbadge. Any thoughts?--

 

[GTs58]

I think you solved it. Your bike has been refurbished and repainted. The fenders sure look like they have Schwinn's B-6 paint details and they appear to be replacements.