The canoe above has typical Carleton features from this era that Old Town retained in these models, including the curved carry handles and the heart-shaped decks (in addition to its Carleton badge). It looks like it was built as a CS-grade Carleton (in the Old Town factory) and sold as a Carleton.
I have a canoe from 1922 that was sold as a Carleton Indian Princess but it was built as an Old Town Molitor. It is badged as a Carleton but has none of the typical Carleton features and all the features of the early Old Town Molitor. Interestingly it even has the original Old Town serial number, overstamped with a Carleton serial number (Carleton serial numbers for a given year were much lower than Old Town serial numbers for the same year; both serial numbers in this canoe correspond to the same year, 1922).