It is clearly a POS. I bought it only for the old-style cable speedometer. However, I have never seen derailleurs like this (at least the make). The front is the old campy/simplex push-rod style. The head badge appears to have the statue of liberty on it (it is faded). There are no other marks/serial numbers or anything. I was going to assume some sort of mid-sixties department-store bike, but it has a proper cottered bottom bracket. The steel handlebars are more track-style. The lugs appear to be chiseled out of gas pipe with a screw driver and a large rock.

Anyone venture a guess before I send it off to be melted into Toyotas?