ELGIN HELP!!!

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I got this (what I think is a murray built) elgin a few weeks ago at a second hand shop. having a hard time decoding the serial number. top line reads: MOS 502 207. and the second line reads: SER15483. its been painted by someone and turned into a board tracker! any help would be great!
893874153963602
 
Looks like a 40-42ish, Murray built frame. It doesn't have the typical Murray/Elgin stamp, which would be 'MOS-' and a letter indicating the year. 207 is the Sears model #, 'MOD 502' means Murray built for Sears, which you usually see on postwar bikes. -Adam
 
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