I have one like this. I could not find much info about it on the web. (But did you try Sheldon Brown? I think I found a little info there.) It's a simple bike, and it seems well made. Quite elegant in its own bike boom kind of way.

Mine has beautiful blue paint and original gum hoods in great condition. I found it at the Montessori School benefit sale in a pile of broken sports equipment. I bought it without hesitation. I pumped up the tires with the frame pump that came with it and zoomed around the parking lot and was very happy. However, mine was only $20.

I would say you could do much, much better for that much money if you're willing to wait a while and you know what you're looking for.