Here Joanny Panel is celebtating the victory of a Chemineau bike in the Touristes-Routiers class of the 1929 Tour de France.

Despite all the claims that competition drives technological development, I find that when bike companies become interested in racing success they almost always lose their technological edge. Only the very largest companies can concentrate with lazer-like intensity on two things at once - and the culture of racing suits a very differnt type of person from the culture of technical development - so one person rarely can handle both. The writing is on the wall for Chemineau's claim to be 'always at the head of progress'.

This low-res, deliberately smudged, scan is from the web site of the excellent Musée d'Art et d'Industrie in St-Étienne.

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• Publisher: L'Industrie des Cycles et Automobiles
• Country: France
• Date: January 1930
• Derailleur brands: Chemineau
• Derailleurs: Chemineau L'Izoard