I stumbled upon this from the 1969 Raleigh catalog:
"Umnatched Flamoyant Color Finishes... standard on all Raleigh Models, is achieved through an exclusive 5 step electrostatic coating process with layers of primer ... bonderized rubber ... undercoat and 2 coats of high gloss finishing lacquer."
BONDERIZED RUBBER? (havent seen that on eBay!)
Rich "I'm gonna try a Brush" Pinder Van Nuys, CA