I tend to agree with you .Im thinking 1936-1938 ish But I also bet it could have sat in a bike shop back in the day for more than a year .Bikes weren't as year to year as they are in bikes shops today They sat until they sold . The Owner was a nice old guy so I wasn't going to argue.Nice bike. I bet that was A LOT cheaper than the one I bought from Brian. Is that a Mass plate on the back? What town?
Btw, not that the original owner is wrong, but 1940 seems like a bit too late. Some of the build features seem earlier.