Originally Posted by
Satiredun
As Guy says in Galaxy Quest: "Oh. That's not right."
Your second picture clearly shows cracks in the brazing above the pump peg and cracks in the brazing below the top of the top tube. The head tube looks like it may have bent back into the top tube and could have crushed the end of the top tube.
The crack below the top tube are from elongation where the top tube is being pulled away from the junction while the cracks above the top tube are from compression. As I said before, the frame is severely compromised.
At a minimum, the head tube
has to be replaced. The top tube probably needs to be replaced and I doubt that the down tube has faired much better. That will mean removal and replacement, alignment, rebrazing, and refinishing. I doubt that the cost would be cheap and would likely cost a significant fraction of what a new frame would cost.
Get an estimate from the frame builder before you put any more money into this bike.