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  1. They’re for downtube derailleur shifters. Problem Solvers makes caps to cover them if you’re not going to use them and don’t want to remove them.

  2. Makes for a sweet 1×8 setup using a downtube shifter. If you got a more modern wheelset/hub, you could squeeze in a 10 hub between the dropouts and made a great 1×10 touring or gravel bike. Steel frames have a lot of flexibility, literally and figuratively. Makes for a great quality of ride.

    Source: I’ve done this to 2 Peugots of similar vintage to yours.

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