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@Steff
Finally went and had a look at the Claud Butler I used to ride as a teenager, which has been has been in my dad's shed since I had a huge crash on it some twelve years ago. He got it new or NOS in the early 60s as a replacement for a stolen Viking and used to ride it Altrincham to Barmouth and back to visit family when he was in his teens.
Bad news is it's really, really rusty-looking, the chainring is bent and the cranks knocked way out of alignment. Good news is that the rust appears upon applicatin of the brass brush to be superficial :-)
The cranks are fairly lovely looking Gnutti steel items with a fair bit of chrome intact - derailleur is a Huret item which I think is likely to be salvageable. Before I can get it properly cleaned up, a couple of things remain to do:
Remove right crank. Got the pin out of the left one with a solid blow from a 2.5lb club hammer, but I need a punch to allow me to apply enough force to get the right out. There's a metalworking place round the corner where I should be able to beg something suitable. The BB is a bit gritty but rotates surprisingly freely.
Worst stuck seatpost EVAH :-(
Frame number is 8604, paint is white with red/white/blue seatpost. Some of the lugs are slightly fancy, which is nice. No tubeset sticker visible. Pics to follow when it's light.