It's a rebadged 1937 CCM Motorbike. The removal of the second top tube is lamentable and was probably done as an easy fix to obtain more standover height. Replacing the tube is a questionable operation. While it is a nice old bicycle, you would probably not recoup its cost of replacement in added resale vlaue. Fortunately, the dual top tube (and truss fork) were purely styling features, meant to mimic the early motorcycles.