After looking at the photos of this bike I found details that lead me in several directions. Unfortunately I do not have reference photos of a perfect version of this bike to compare to and the CWC built Hawthornes are not completely cataloged in the postwar Wards consumer catalogs for reference. (The postwar catalogs show a pronounced bias toward the concurrently built Snyder versions.)
Regarding the serial number, the suffix is the most important part of the number for dating most postwar CWC built bikes. Its importance is followed by the first letter in the sequence and lastly the serial number itself which is five digits and presumably just a sequential register in the series defined by the other information. I think Nate may be confusing CWC serial numbers with Huffman numbers that can generally be year coded by the first number in the sequence.
Chronologically the “Cw” series is the second postwar series, produced roughly from 1947 through 1949, following the first postwar series which did not use a serial number suffix and coming before those with an “ACw” suffix. The Cw series bikes have serial numbers that begin with the letters “A” through “J” excepting the letter “I”. Without going too far afield I’ll note that some of the “A” through “C” serial numbers that appear to date to this second postwar run do not include the Cw suffix but are clearly later production than the earlier non-suffixed bikes.
My serial number model was built on the notion that the letters were used chronologically but recent conversations I have had with the Dean of Classic American Bicycle History, Leon Dixon, have brought up the revelation that is not necessarily so. Leon noted that the serial number sequences were in many cases tied to longer term contracts that may have been produced in batches to follow retail demand making them much less linear than my model can depict. To date individual bikes, you can supply information to Leon through the NBHAA and his records will provide a more accurate picture than my model.
With most of the above serving as a caveat, I would say that this frame, based on the serial number coupled with the physical features of the frame, dates to late 1948 or early 1949. One thing that throws me is the head badge (which I can’t see clearly.) Wards changed head badges at least three times during the late forties and only the second version features vertical mounting holes, all the others are horizontal. I can’t tell from the photo if the badge has vertical tabs or is being located solely by the head badge screws resting on the edges of the badge. If the badge does have tabs under the screws it is the second version but so far, that badge seems to have been replaced by the next style after 1947.
I also do not have references that show that headlight used on a CWC built Hawthorne. (It is the standard headlight for the Snyder built deluxe Hawthornes from the late forties/early fifties, and should have a two-tone lens that is shaped with ribs that follow the contours of the wind split.)
The Saddle and drive train were mentioned as non-original. I also question the rear fender for both the short tail and the misfit of the fender dimples at the stays. It is possible that this bike was assembled from more than one bike but all in all, most of the parts for an original deluxe CWC Hawthorne are present and it looks like it will be a fun ride and possibly a fun research project to discover more about over time.