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The bicycle coaster brake was invented by New Departure sometime in the 1897-98 period. Early in 1897, the company created the so-called "controller." This was a device that acted as decelerator and also permitted coasting but was not a true "coaster brake". (Posts #89 & 97) In December of 1898...
Thank you so much everyone, especially Archie, it looks like your on the right track. The hub arm says New Departure C. I found a picture of a 1927 Ben Hur which is schwinn built, it looks almost the same. Im a little depressed that it may be ten years newer then i thought. Is there some way to know for sure exactly what it is?
10 yrs during this challenging period in our history 20's to 30's means very little really in terms of value or desirability. It is the completeness of the machine that you should focus on moving forward. Take it apart, clean it carefully, put it back together and then stare at it. Appears everything is intact, or original. This is a huge hurdle to overcome or forensically be sure about when you find a pieced together machine with all the history removed and/or replaced. Your Schwinn built Simmons may have come out of the shop like that. The exact answer you look for has already been given. Schwinn built 20's motobike..very nice. Excellent photos as well, kudos as it really helps the id..
If you are looking to ride this regularly tires for this period are your nemesis- Tubular 700c tires fit and are available but are disappearing relatively quickly. 700c tubular is going away. There are threads on the site about where to find these tires in the correct (or close) width & style. Challenge is one of the brands currently available I believe so you might want to search for that.
Otherwise awesome bike to clean up and enjoy!