A neighbor left this bike (a 1974 Raleigh LTD 3 Three Speed) out on the curb for dead a while back. With good reason. The tires were flat and rotted, the seat was covered in black tape, wheel bearings were completely out of adjustment and it was pretty dusty and dirty. But I cleaned it up a bit, put on new tires, brake cables and pads, and fixed the springy seat. Now it's just the thing for riding around town. It is the only bike I have with a kickstand and is still too ugly for anyone to bother stealing.
Raleigh built versions of this bike for decades and sold them around the world. This one was actually built in their factory in Malaysia, and is near to the end of the line for this sort of bike. The ten speed craze knocked the three speed to its knees in the 70's and then mountain bikes buried the three speed a decade or so later. However, there does seem to be a trend towards a bit more diversity in bicycle types lately, so the three speed may rise again despite the obvious lack of carbon fiber and aluminum alloy.