Prewar "Pennant" bike company? CWC?

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Just picked this up last weekend. I'm having a really tough time finding out what model or any other pics or even anything on the brand at all other than they were a merchandiser like Sears and roebuck from 1900ish til present.
It has a badge just like Roadmaster, but its flipped. The words below Pennant read Butler brothers.
Its a 24in and the S/N is J96386 530 (the zero is not fully stamped and has a tiny W stamped inside it)
Let me know if you guys know anything about this. Sorry for the flip phone pics. Thanks!


pennant4.jpg


pennant2.jpg


pennant1.jpg
 
Just thought it might be with the skiptooth and hoizontal tensioner dropouts.
I guess i could have posted a picture of that too. Maybe once its rebuilt.
 
AMF purchased CWC in 1951. The first major product redesign after the purchase occurred in 1954 and the up-curved rear stays were dropped and forward slotted dropouts were introduced at that time. Rear exit toe plates were used exclusively on all CWC and AMF/CWC bikes through 1953 (except for the 1953 Flying Falcon which heralded the new 1954 redesign), both styles were available in 1954, and only the newer front-exit style post 54.
 
Thanks for the info guys! Been collecting for years, but just started figuring out the facts and year stuff.

-Rust
 
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