If, as claimed, this IS Schomberg it's a very different style to anything that followed.
Torch wears a blue costume. He doesn't adopt the Jim Hammond identity until issue #4.
Story continued next issue.
Everett signs again on the final page.
Last golden age American Ace story. A similar or reworked feature titled Lieutenant Lank appears at Centaur in Amazing Mystery Funnies #24 http://www.comics.org/issue/1026/#1153116 and The Arrow #2 http://www.comics.org/issue/1083/#16332.
Next appearance in All-Winners Squad: Band of Heroes (Marvel, 2011 series) #4.
Lauretta was famously let go by Timely because his stories were too complex for children, so he is likely to be the scripter here. In addition, he is known to have lettered Superman stories for National.
Story set in World War I.
Text story with illustrations.
Story continued in next issue.