I plan on installing a non-schwinn 1962 26" 3 speed coaster brake wheel in back, a 26 up front also and 10 speed bars with clip-ons with a extended alum. neck. Should be a cool Airline Trail racer.
The serial # is k945294 which dates it at 10/15/59. a couple days late for her birthday but I'll bet she's still happier than in that dumpster. It's always a great feeling to save one from the furnace. I hope to ride her 9 miles tomorrow.
Looks very similar to the '61 I pulled from the bike salvage yard a couple weeks ago. I aired up the tires and took off riding. Albeit in third gear and without brakes but it worked.