See those two silver stripes just below the seat cluster and above the tubing sticker? I'd bet a dollar that that's the band that holds the shift cable wheel, like the one in this picture;
http://www.ebay.com/itm/Vintage-Sturmey-Archer-Pulley-Cable-Guide-for-Steel-Frame-Bike-1-1-8-inch-tubing-/280963376412?pt=LH_DefaultDomac in_0&hash=item416ab8e51c
It's a 3 speed that's missing the shifter. The missing pieces will cost less than $20. If it's your size and you like the color it's a great bike.