Someone recently posted photos of a Churchill frame with what Hilary Stone identified as Stallard long point rear Dropouts. Here's a 1939 L'Auto with similar dropouts:
http://velosvintage2.ultim-blog.com/
It seems that the vertical dropout is for a multi-speed set-up with a derailleur like Osgear or Simplex, and the horizontal dropout is for single-speed.
Mordecai Silver New York, NY This email is intended for the recipient only. If you are not the intended recipient please disregard, and do not use the information for any purpose.