It is certainly possible for a frame to take a range of wheels from 650B to 26 1 1/4 up to 27". I converted my Schwinn World Voyageur from the original 27" wheels to 650B with excellent results. I used the extra-long version of the DiaCompe CP's which Rivendell was selling until recently. The biggest other concern was the BB height, but fortunately the World Voyageur has a pretty high BB, making it a good candidate for conversion. This sort of conversion is pretty common, and a number 70's Japanese sport models had high enough BB's to make it work well.
As pointed out, 50's brakes were quite long my today's standards, so assuming the original wheels were 26 1 1/4, there should be no problem at all fitting 27" using shorter more recent brakes, although it might be a bit difficult finding period correct brakes short enough. And of course one will have a higher BB with the 27". To go to 650B from 26 1 1/4, we are talking only a 13 mm difference in wheel DIAMETER, which is only 6.5 mm difference in brake reach and BB height. This is pretty trivial, and should present no real problems.
Regards,
Jerry Moos
Big Spring, Texas, USA
> From: Via Bicycle <viabicycle@gmail.com>
\r?\n> Subject: Re: [CR] FS 1950s Paramount Tourist
\r?\n> To: rdf1249@aol.com
\r?\n> Cc: jonswriter@att.net, classicrendezvous@bikelist.org
\r?\n> Date: Wednesday, October 28, 2009, 8:42 AM
\r?\n> Here is a picture of my 1961 Schwinn
\r?\n> Paramount tourist.
\r?\n> http://bikeville.blogspot.com/
\r?\n> it has 27" wheels. it was probably one of the last of it's
\r?\n> kind.
\r?\n> Sturmey Archer three speed, cottered Schwinn Paramount
\r?\n> cranks, Bluemel
\r?\n> fenders, chainguard, Phillips pedals.
\r?\n> I will at some point take better pictures and put up on my
\r?\n> blog.
\r?\n>
\r?\n> Joel flood
\r?\n> http://bikeville.blogspot.com
\r?\n> Philadelphia, PA
\r?\n>
\r?\n>
\r?\n> On Wed, Oct 28, 2009 at 3:32 AM, <rdf1249@aol.com>
\r?\n> wrote:
\r?\n> >
\r?\n> > There were some pretty long brakes in those days.
\r?\n> The smallest wheels would be the 650 B with 584 diameter.
\r?\n> 26 x 1 1/4 have a diameter of 597, not that much smaller
\r?\n> than the 622 of 700c wheels. 27" would probably fit with
\r?\n> "normal" reach brakes. the only caveat is with larger
\r?\n> wheels the bb height would be kind of high. 26 x 1 1/4
\r?\n> still the best, just kind of hard to find these days. Not
\r?\n> the same as 26 x 1.25 mt bike wheels. Borrow the money.
\r?\n> These don't come along very often.
\r?\n> >
\r?\n> >
\r?\n> > From: Jon Spangler <jonswriter@att.net>
\r?\n> > Subject: Re: [CR] FS 1950s Paramount Tourist
\r?\n> > To: <classicrendezvous@bikelist.org>
\r?\n> > Message-ID: <E14CEDC7-8C09-4B01-BF11-CE57B6D1E808@att.net>
\r?\n> > Content-Type: text/plain; charset="US-ASCII";
\r?\n> delsp=yes; format=flowed
\r?\n> >
\r?\n> > Bob,
\r?\n> >
\r?\n> > How can this frame take all those different wheel
\r?\n> sizes (26 x 1 1/4",
\r?\n> > 650B, 700C, 27")?
\r?\n> >
\r?\n> > What brakes would permit such a wide range of wheel
\r?\n> diameters?
\r?\n> >
\r?\n> > Jon Spangler
\r?\n> > wishing he had the $$$ for your Paramount in Alameda,
\r?\n> CA USA
\r?\n> >
\r?\n> >
\r?\n> >
\r?\n> >
\r?\n> >
\r?\n> > Bob Freeman
\r?\n> > Elliott Bay Bicycles
\r?\n> > 2116 Western Ave
\r?\n> > Seattle, WA 98121
\r?\n> > 206-441-8144
\r?\n> > http://www.elliottbaybicycles.com
\r?\n> > http://www.davidsonbicycles.com