bicycle i.d. please

[alvl1936]

another barn find ( ugly repaint ) it looks like black under the red or orange serial # under the crank B301 , 28" / 1 1/2" wheels & tires , direct drive skip tooth morrow hub , chain adjusting screws in the frame , rear rack ,schwinn the world pre war badge , year & schwinn ?

 

[OldRider]

I don't know about the Schwinn but thats a Wald aftermarket rack on the back, they started appearing in catalogues in the early 30s and were manufactured unchanged till the late 50s.