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Wartime Schwinn New World Bikes - We Know You Have Them - Tell Us About Them!!

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I updated the entry to Paramount hubs. It's funny because I stared at this 1939 Catalog page for a while when I was contemplating this bike:
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Looks like 4045 and 4120 on this bike. Now that you guys point this out, it seems like the true "telephone dial" hubs have a domed flange while these Paramount hubs seem less domed.

When they say Rear Racing Hub does that mean its fixed drive? I didn't see any brakes...

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Exactly so, standard phone dial on the lightweight (single speed freewheel, phone dialer front) has a bulkier center section with a bell at each end so that it has a kind of dog bone look. The Paramount has a narrower, straighter center section.

Non-Paramount phone dialer type:

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I updated the entry to Paramount hubs. It's funny because I stared at this 1939 Catalog page for a while when I was contemplating this bike:
View attachment 1714963

Looks like 4045 and 4120 on this bike. Now that you guys point this out, it seems like the true "telephone dial" hubs have a domed flange while these Paramount hubs seem less domed.

When they say Rear Racing Hub does that mean its fixed drive? I didn't see any brakes...

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Could be fixed or have the “villiers” brand freewheel on it. I have had a few with that freewheel.
 
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Could be fixed or have the “villiers” brand freewheel on it. I have had a few with that freewheel.
Did the Villiers freewheel include any kind of brake? Now that @Miq mentions it, freewheels usually come with calipers, and if there's no calipers, then there's a coaster brake, but I don't see any brake of any type. But on a racing bike, maybe that's just unnecessary weight. Did the board track racers use brakes? I've read a little about that era, but there's plenty I don't know. Were they even still running board track races when this bike was built?
It's also interesting that @Miq's list includes Dunlop Lightweight rims as an option. I can't see that front rim well enough to be sure, but that's the first thing that crossed my mind when I saw it. @oldwhizzer was taking this bike to Memory Lane, did it sell?

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I had a post-war New World with a set of Dunlop special lightweight rims 26 x 1 1/4 (597mm). The level of finishing on the Dunlops is excellent. Front hub was a British-made Airweight with wingnuts, rear was a Sturmey AM medium ratio - a British-style club touring set of wheels if ever there was.
 
I had a post-war New World with a set of Dunlop special lightweight rims 26 x 1 1/4 (597mm). The level of finishing on the Dunlops is excellent. Front hub was a British-made Airweight with wingnuts, rear was a Sturmey AM medium ratio - a British-style club touring set of wheels if ever there was.
Were there 32 spokes in front and 40 in the rear? With all British parts, that would be the most likely. @oldwhizzer's bike has 36 on both wheels, so if it's a Dunlop rim, it must have been made for the American market.
 
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@Popeonwheels has been posting pics of this sweet K serial VW1M New World. It is in great shape.
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@Popeonwheels can you take some pics of the hubs and the rear reflector?

It looks really well preserved and I bet it is quick and rides great. Glad to see you using it and enjoying it.

There are a few things that don't seem original. The blocks in the pedals do not look correct for T8s, and the kick stand and chainguard would not have been original with this bike. The handlebars also seem to have a lot of rise. ??

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