Join Date: Apr 2009
Location: New Rochelle, NY
Bikes: too many bikes from 1967 10s (5x2)Frejus to a Sumitomo Ti/Chorus aluminum 10s (10x2), plus one non-susp mtn bike I use as my commuter
Mentioned: 11 Post(s)
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Yes it's safe to ride if the handling is OK.
I wouldn't expect it to break without tons of warning by way of development of obvious cracks. A process that could take years, if ever, on this frame.
But a sideways bend of this type is likely coupled with deflection of the rear triangle. Either or both will cause handling issues because the wheels don't track exactly one behind the other, and/or because your center of gravity won't be directly over the track line unless the bike is tilted slightly to one side.
The end result will be a tendency for the bike to pull to one side and probably steering instability (shimmy) at higher speeds. Plus riding the bike tilted will not be comfortable for any length of time.
If you have the various parts to rebuild this without investing more than a few dollars it might make an OK town bike for shopping or errands or short loops for exercise, but I wouldn't expect it to ride decently enough for anything beyond that.
BTW- since you asked if it was safe, it is structurally, but shimmy or tracking issues (if they exist) would make it unsafe at any decent speed such as when descending hills.
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