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Help needed identifying this Shelby frame.

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palepainter

Finally riding a big boys bike
It is a bit of an anomaly. Looks like it should have come with 28 inch wheel set with the monstrous gap in fenders. Perhaps they were replaced at some time as it appears to have been painted several times in its life. The badge rivets have been filled or ground flush. I can see numbers in BB. Any assistance appreciated to help identify. Going to do my best to give it a new life.
Trued the wheels the other day and repacked grease. Rolls nicely
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A late 30's 26" Shelby frame/fork/bars/stem with little else Shelby on it. Seat looks even earlier, most of the other stuff later. The teeny tiny tires make the wheels appear to look like they are not the correct diameter or fit.
 
A late 30's 26" Shelby frame/fork/bars/stem with little else Shelby on it. Seat looks even earlier, most of the other stuff later. The teeny tiny tires make the wheels appear to look like they are not the correct diameter or fit.
Western flyer crank?
 
Could have had a Hiawatha badge on it which would make the chainring correct if I'm not mistaken, must have some 1.75 tires on there. Cool project!
Sean
 
Might be a Murray chain ring sprocket only.

The N-300,000 series may have been about 1936 or so(?); balloon tire era.

I believe that post-war, Shelby may have used a similar-looking chain ring sprocket, but with six sectors (instead of five).

Fenders do look somewhat shallow, (i.e., not older deep fenders). Also, after-market fender braces do come in various lengths.
 
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