Hi, there in another sub forum here for valuation.
http://www.bikeforums.net/forumdispl...-and-Inquiries
It was likely made during WW2. The saddle and some hardware has been replaced. It looks to be pretty original but I have doubts about the black rims without knowing better. Very cool machine. I think gut is mono-filament string that was originally contained within animals in the form of intestine.
Looking forward to other opinions and comments.