I didn't know they knew anything about cold molding in 1929, just traditional plank on frame (correct me if I am wrong). Cold molding usually refers to multiple layers of wood strips, with each piece fully encapsulated in epoxy, and usually a layer or 2 of glass on the exterior.
Maybe it's a layer or 2 of fiberglass over the original hull? If it is, it's usually just a last ditch attempt to keep a sinking boat afloat. The glass keeps it floating, but the wood planks and frames continue to rot, not a proper fix. Tell us more about this one, please.