If it's just a busted cotter pin it should be fine. If you can't find a replacement locally, Google Flying Pigeon LA (as in Los Angeles). They sell those kinds of parts.
I've got one of those Austrian Sears bikes, a ladies model. It has a Shimano Lark 5-speed derailleur, and it also has a centrifugally tripped two-speed built into the rear hub, making it a pseudo 10-speed. Only problem is that the rear axle nut is stripped so the rear axle slides around a little.
__________________
I stop for people / whose right of way I honor / but not for no one.

Originally Posted by
bragi
"However, it's never a good idea to overgeneralize."