Bike given to me, but dont know what I have

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I was wanting to see if I could figure out what I had. I looked for serial numbers and have been looking at pictures of drop out and chain rings and seat styles and all kinds of stuff and just can't really place what I have. I know that chain rings and seats can be changed over the years but figured I would include those as parts of the puzzle to see if I could figure it out. I did find some numbers on the bottom bracket. It has been painted a time or two over the years and the numbers are very hard to see but I found 2 rows of numbers. The top row started with an "M" followed by either a 7 or a 1 followed by 900 then the rest are harder to read (M7900 or M1900). The second row is the same size numbers as the first and best I can tell it is 66068. I looked at the Schwinn and Murray numbers. The Schwinn numbers on the bottom brackets stopped in 51, but the first letter of "M" wasn't used until 54 and should have been on the dropout, not the bottom bracket. I looked at the Murray numbers that said it should be on the bottom bracket an the starting "M" indicates a year of 1956, but the dropouts all seemed to look different on the Murrays.

For the record, I don't expect this bike to be from the 50s, just thought I would post up and see what I might have. For all I know its a cheapy made in tiawan with some older parts on it. Oh and I don't think the fork is original. When I was going to get a new headset for it they had do to a combination of a couple headsets to get all the parts to work together.

Anyways, here is what I started with and some pictures. Maybe you guys can make some sense of it.

What I started with.
IMAG0463_zps95d885b6.jpg


IMAG0733_zps30cfdc3d.jpg

IMAG0731_zpsd93d046b.jpg

IMAG0729_zps3a316ee0.jpg


Serial numbers start just to the right of the chip in the paint. Second row is just under the reflection of the light.
IMAG0728_zps7d398dcf.jpg


Seat.
IMAG0738_zps83ddf207.jpg

IMAG0734_zps7b871acb.jpg
 
I would say this bike is 1980 or newer ( the stem, cranks,fork, kickstand plate, plastic pedals and reflector brackets all look Newer). Most like a parts is parts bike.

What is the rear hub?
 
Thats pretty much what I figured it would be. I don't have the rim that it came with. It was trashed so a friend of mine used it for some craft project around her house.

Thanks for your help.
 
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