Wayne/Bob:
I have copies of Official Team Schwinn photos of 38/39 vintage and the A.S. CHROME MOLYBDENDUM decal is not in evidence at this early date. I've never seen a pre-war Paramount with one and imagine they probably appeared immediately post-war when Oscar Wastyn took over the frame building from his father, Emil. In the 1953 catalog, Schwinn had a two page spread featuring the full (P-32 track bike, P-31 men's and P-81 women's tourist) Paramount line up and stated, "FRAME-made to customer's specifications from either Accles & Pollack or Reynolds 531 seamless drawn double butted tubing." Interestingly, it states the fork is, "To customers specifications from best grade double tapered seamless drawn chrome-molybdenum tubing."
Definitive information about this time frame of Paramount production is hard to come by, but my reference material suggests that the A.S. CHROME MOLYBDENDUM decal would have been used from approximately 1945 to 1952.
Bill Curtis
Costa Mesa, CA