This is a vintage 1920's New Model Comet 28" wheeled bicycle.  This bike is great period piece with the big wheels, skiptooth drivetrain, drop stand, stepped fenders, rear rack, and moto styled saddle.  This bike was most likely built as a ride for a "stouter" person that is a bit shorter.  The double top tubes add a bit of stiffness to the frame - not so wippy.  Is a mostly fillet brazed frame with the standard dropout mount in the back (reversed with adjusters).  The midtube is flared on the ends that match up perfectly with the seat tube and headtube and brazed nicely. 
The paint is a little rough, but there are some spots that will shine up a bit.  Original color was black, but now its a whole lot of rusty.
The chain is a bit stiff but might get a bit better with an oil bath and some tlc. 

**The wheels don't match - front is a wood rim painted black with some pinstripes and the rear is a steel rim, both tires are glued on.  Tires aren't too bad, meaning that they aren't blown out and might even hold air.

The fork is a bit unique, which might help to id the manufacturer (beyond the "New Model" name plate).  The fork blades are oval but have a raised ridge on the non-tire side.  Also is a plate crown, again a bit unique.

Headbadge reads "New Model" "Comet", made out of brass.  Top and bottom mounted screws.

The handlebars a bit fun too - they are wider with only a bit of rise - 23.5" wide and only a 2" rise.  The do sweep back about 9".  The stem and handlebar are both painted silver - flaking badly though.

The seat has no cover and is showing surface rust.  Its definitely worth saving and recovering, but it'll take some work.

Fenders, rear rack, and dropstand have no paint left and are covered in surface rust.

Pedals are a block style, worn and beat but they spin.

Measurements:

Seat Tube (center to center)

Top Tube (center to center)

Stand-over Height

Serial #5220

Reference #29712