1930's ??? Swap Meet Find

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I pick this up at a swap meet this weekend. The guy I bought it from said it was an early 30's Schwinn but from what research I have don't I'm not sure what it is.It has a New Departure rear hub and brake,26" tires. The #under the crank is D1150. It would be ridable with new tires and tubes. Can anyone help to ID this bikeor components? Does anyone have an idea of what it might be worth? I am new to the vintage bike hobby this being my first purchase and know very little about all the details that are used to ID and value vintage bikes. Thank in advance for your time and help.
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http://i1170.photobucket.com/albums/r530/Gasr57/a5fe9ea7.jpg[/IMG]
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http://i1170.photobucket.com/albums/r530/Gasr57/6f903504.jpg[/IMG]
 

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