Frame identity please - before I scrap it

[gerryattrick]

A friend asked me to convert a bike (25" frame) he had in his garage into a single-speed. Unfortunately when I looked at it I saw the seat tube had split at the BB so it looks as if it has to be scrapped.
Before I do can anyone give me an idea of what make it is. I believe it's 40-50 years old

 

[Goldie]

Puch? Based on the eyelet design on the rear drop outs, the Carlton-esque head tube lugs and the stumpy tops on the seat stays.