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Mystery blue kids bike

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Billythekid

I live for the CABE
So I took the kids to the turkey rod run and swap meet at Daytona international Speedway the place where they do the NASCAR 500 race and I scored this kid bike now I want to know who made it the guy said The guy he got it from said it was an emblem? and the year 1927
That sounds right to me on the year but I want to see what you guys think ?

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The chain ring looks like Snyder, but I don't think they made a 3pc crank. Possibly a Morrow brake hub, those are dated.
 
Colson lug frame bicycle; (not Westfield!).

The bearings (and cups) at the lugged joints are undersized, perhaps thus the need for a two-piece crank?

The saddle seat looks fairly-large for a small youths (20”) bike.

And the handlebars are upside-down.

The front rim looks to be steel like on the silver ring models.
The rear wheel looks to have been re-built using new heavy-duty spokes, with spoke nipples that are shorter, as compared to the thicker, wooden rim.
 
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Note that the B-301 is a casting-forging piece-part number; i.e., the same exact number appears on Colson lugged bottom bracket crank hangers, and other similar numbers sometimes appear on different parts (e.g., B-320/headtube).

 
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