Schwinn cruisers w/deraileurs

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Can someone show me a closeup of the dropout of an older Schwinn cruiser w/factory deraileur? I have a '60 Panther that I am going to equip w/the old Shimano+Stik Shift from my deceased '68 Stingray. I figure there's 2 ways I can go--drill a hole in the dropout & weld a nut to the back, or weld a bit onto the deraileur bracket & use the fender mounting hole. I didn't really think about this when I first concieved this project...I was 13 & it was 1988. :mrgreen:
 
Of course it slips in like that, but there's also a screw on the hanger, too. I'm not sure the deraileur I have around is from my Stingray or a Varsity I stripped, but it has that screw on it, like a modern deraileur does. I figured that screw was there to keep it stable, (not to mention in place if the wheel had to come off-not that big a deal) It seemed like the deraileur stayed on when the Stingray wheel came off, though it's been a while...
 
heres a pic of my 58 schwinn with a shimano tourney mounted just like a
factory install its basic stuff
100_3394.jpg
 
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