That bike intriged me, so I did some poking around while on a slow shift at work. Many pics say it's a late 40's bike. But no real definition given though.
It may be Colson or Huffman, no consensus on that either. Check for a serial number. This is a quote I found on a message board: "Typical Colson serial numbers have an upper and lower line of characters. One line consists of a letter and a number, the number has been interpreted to represent the last number of the year of the bike. In that light, O7 could be interpreted as 1947 as the feather weights were not produced in 1937 and Colson had sold out their bicycle division before 1957"
Whether it's 40's or 50's, it definitely built like a tank, and yours looks in very good condition.