Yes, That is a K&S Hornet. They came without suspension, with front suspension, with front suspension with different bars, front and rear suspension with different bars. There is a spring inside the forks that is held in place by that bolt.
The caliper grabs the sprocket on that model, I never liked sprocket brakes because chain oil can soak the pucks. I have the same frame with non suspended forks and will use the brake mount to hang a stop for my internal expanding drum setup I got for the Manco wheels the K&S came with.
WhenI was a kid the hornet I had had forksjust like that. Supposed to have springs in there and an inch or so of travel. I could never tell it tho. Mine came factory with a clutch band brake. Works great if you don't toss the chain.
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