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1950s Ludwig Universal Speed Master Bass Drum Pedal.
The predecessor to the Speed King, the Speed Master traces its history back to the 1940s, when William F Ludwig had his WFL drum company. When he purchased the name back from CG Conn, the pedal became known as the Ludwig Speed Master.
These have a standard tension spring, unlike the Speed King's compression spring.
This one is in fair shape. Mechanically, it works, but the original leather strap has been replaced by cord, and a lot of the original red paint has worn off over time.