HS must stand for "hub shift". The big clue for me is the statement that you 
can't use more than one chainring on it. At first I thought, "what, you can't 
clamp on a front derailleur?" But once "hub shift" was suggested, I realized 
that a hub shift with no rear derailleur hanger would make it hard to have 
something that would take up the slack required when switching between multiple 
chainrings. So hub shift with no rear hanger fits the clues given.

I like having a 135-rear-spacing bike that has a derailleur hanger, because I 
have the option of doing one of the new internally geared hubs and could still 
use it with multiple gears up front.

-Jim W.

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