English style 20 inch wheels frame?

[Rusty Bikes]

I have just found a "Midget Schwinn 10 speed style Frame" that can only take 20 inch wheels which are missing.
There are no curved bars, everything is straight on this frame, it uses a conventional size lower bracket for a one piece crank like American style bikes.
It has Hollow rounded style forks, not the traditional "flat" Schwinn style.
Would this bike take a 1 & 3 Quarter size tire, or was there such a thing as a true lightweight tire and rim combination for this bike?
Thanks, Rusty Bikes

 

[sailorbenjamin]

Here's a good page on wheel and tire sizes;
http://sheldonbrown.com/tire-sizing.html
Sounds like an interesting bike. What vintage is it? I had a 24" tire Varsity a while back. Really cute.
Can we see a picture?