1930s Shelby??

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Here's one my friend brought over. I think it's a late 30s Shelby/Gambles?? Rear wheel has 2 speed Bendix and is different than front wheel. Nice reweld at seat tube. Has cruiser size tires . . . for now. No headbadge - $20

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ok - any way to aprox. date it? i saw one on oldroads.com claiming a 1949 with rear dropouts and "parking stand" mounts - seems alittle early for a 49?? :?:
 
The frame is actually from a 1941-42 Monark. the fenders may be original but most of the rest of the bike has been swapped out over the years.
 
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