buy a 99cent store saw and saw off the spindle, those cranks (no offense) are crap and your not going to find a good/new bottom bracket to fit them anyway. even a NOS bottom bracket would be crap.

then again it might have that really old raleigh threaded bottom bracket. finding a replacement might be hard. personaly i would pick up a decent bike at a thrift store. you should have to spend a lot to make this bike decent