There's nothing in this theory that seems outrageous to me.
Obviously, Goudey acquired the Chicle assets in 1937, and aside from their use of the "Diamond Stars" brand name, and their use of the R344 Rabbit Maranville "How To" artwork (from the high number Batter-Up packs) in the R303 premiums, there's no evidence that Goudey actually used any of the assets they purchased.
Design concepts that were in process at Chicle would be a PERFECT thing for them to have used, and I think the fact that they simply aped the backs of the 1933-34 Goudeys for the backs of the '38s helps bolster your theory.
Goudey clearly intended to produce more of these cards than the 48 they issued. The second series refers to a series of 312 subjects on the reverse, yet the last card in the set is #288. While guys like Frank Pytlak and Vernon Kennedy - certainly good players in their own right - were included in the set, folks like Al Simmons, Carl Hubbell and Bill Dickey were not. I've always wondered about that.
In any event, I think your theory is as good as any. Sadly, all my research into this over the years has yielded very little, as most of Goudey's early records were discarded into the furnace, or into the hands of collectors who haven't relinquished them. I had conversations with a member of the Goudey family who was somewhat of a family historian some years back, and he didn't have much info, either. Sadly, the website he maintained has vanished from the web, and his email address is inactive; I have no clue what happened to him but hope he's okay.
-Al
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