This strange Hercules is dated 8, 1960 by it's SA AW hub, so it is right on the cusp of Raleigh take-over. I think this frame came from Hercules already finished glossy black and was repainted a strange red over silver "flamboyant". The red has mostly faded off, but you can see where the cable clamps were the original color.
The smashed fork drops signal the low build quality. It has a somewhat dead ride, but not too bad. It rides straight with hands off.
If anyone knows the dates of the AMF Hercules, that would help, as this came with the funny angled-front chaingard, but no AMF logo, only "Hercules".

Those black bikes are my 64 Sports Ladies and India Herc being painted.