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Old 06-15-09, 06:50 PM
  #3  
Garthr
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Join Date: Oct 2008
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Bikes: Franklin Frames Custom, Rivendell Bombadil

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It's called a cottered bottom bracket. Common on low end bikes of the time.

I've never worked on one, but try following this:
http://sheldonbrown.com/tooltips/cotters.html
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