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Pre-war roadmaster bicycle - $300 (Toledo)

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...and the chain adjuster angle changes throughout the years, progressively more horizontal.
That's odd. It would mean that CWC changed from years of straight rear stays to curved and then, year or two later; 1940-41 back to straight. Technically, Backwards?
 
Honestly, I think the dropped chainstays started out as a Hawthorne thing, not necessarily a CWC only characteristic. I could very well be wrong.

Both CWC & Snyder with dropped chainstays
 
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