This is a 1939 Indian Sport Scout Bobber. (Bobber is a motorcycle that has been customized without cutting the frame). This motorcycle appears to have been prepared for the track as well as the street. It is a matching number motorcycle with no front fender and an after-market aluminum fender on the rear.
 It does kick through with compression. The bike has storage scratches and dings and is laden with dust. The seat is aftermarket and correct for the style. The tires hold air but are not technically road worthy.
 Paint: Frame paint appears to be original. The tanks and oil bag are older repaint. The paint will probably restore somewhat with a good cleaning and polish
Sheet metal: The sheet metal that is present is in good shape with minimal dings. The gas tank appears to be worthy, no visible soft spots. No dings or dents noted. The gas tank is noted as rusty inside but appears to be sound on the bottom.
Chrome. What chrome that is on the motorcycle is dull and pitting. It will probably not take to a cleaning
Tires and Rims: Rims are painted steel with painted steel spokes and nipples.
Front Tire is a no name. Tread is good, sidewalls are decent. Tire is over 10 years old. Rear Tire is Metzler 120/90 X 19 71 H. This tire is new, never used but 10 plus years old.
Mechanical:There is no outward indicator of repairs needed. The engine and drive train are intact and appear to have been operable when parked. The chains are properly in place as are all mechanical parts. There is damage noted to the cylinders or heads in the form of a couple of broken fins in normal places. This motorcycle could be placed in service with a flush of the lubricants and fresh fuel with a carburetor cleaning and ignition cleaning. Many experts would consider and advise a complete tear down of the engine and transmission to prevent a catastrophic event occurring from static decay. 
Clean Title!