This is a Vintage 1930's Arnold Schwinn ladies Pullman bicycle.   It has great paint, red details with a main color of dark blue.  This bike is rideable as is, but a small tune would be recommended.  There are very few scratches on the fame itself. 
This Pullman closely resembles the 1933/34 Schwinn ladies B3 (balloon tired model)

Fender stays are flat style
Rear fender has holes where a dress guard made of string was once mounted
Amazing paint - even the gold pinstriping on the spears is still on the bike
**Fenders seem to have been painted black at some time.  Fenders at one time may have been chromed and then repainted.
Chainguard may not be original

Measurements:

Seat Tube about 18"

Top Tube about 22"

Specifications:

Seatpost - original L bend solid steel seat post

Saddle - original Troxel ladies leather covered springer saddle, in great shape with only a few scuffs, black

Stem - steel quill, chrome is starting to rust

Handlebars - 22" wide bars, chrome is starting to rust, ball end black grips in good shape

Crankset - dog leg 1 piece drop forged steel crankset with 4 circle design inch pitch chainring

Pedals - ladies 3.5" Torrington pedals, worn, no chrome, metal was painted silver, usable though

hubs - New Departure front and rear, Model D coaster brake rear
rims - 26" drop center steel rims, showing more rust than the original chrome (which there is very little left)

skiptooth drivetrain, in good shape and rideable
tires - Good Year All Weather rear tire, Crest Deluxe front tire - both showing some wear and some cracking, but hold air and are rideable

Serial #525527

Reference #38495