Hello terminaunt,
I noticed your post and wanted to let you know that I own Schwinn Paramount frame #A 815. This bike was purchased by my Grandfather around 1940. I remember it with all the original parts unfortunately I did not consider it anything special and gave it to a friend who stripped them all around 1970 and tossed them. A few years later I realized it was something special and he was no longer using the frame so I asked for it back. It was then repainted the original color, Black and outfitted with all Campy parts vintage 1972. In 1984 I added touring gear and took it on a 2000 mile ride through Europe. I still ride it sometimes.
Sometime around 1972 I wrote to Schwinn in hopes of identifying exactly when the bike was built. They said original records of these older bikes had been lost in a fire years before, but they did send me copies of old catalogues (which I still have somewhere) and it appeared to me that the frame was from 1939.
It has racing drop outs although it has tabs for its original fenders (long gone). It came with a 3 speed hub. The lugs appear to be hand cut and are very simple. I think I remember that when the paint was stripped I could see copper around the lugs which I think means it was brazed together (not sure about that memory). The metal Paramount head tube logo is still unpainted (not attached to the bike) and you can clearly see it was fabricated and brazed together to form the 3D Star logo, not stamped.
Hope this is helpful for your Paramount Registry.
Yours, Malcolm