Iver Johnson Test Ride

This is the bike I bought a while back from a friend. Other than tear it down I hadn’t found any time to do anything with it even though I had entered it in the Ratrod Bike Build Off 4. I missed the deadline for the build off but I did find a couple hours last night to work on it. I re-greased the hubs, replaced a broken spoke, put on a new crank, pedals. Schwinn grips and a Brooks saddle. Took it for a ride around the neighborhood and on the way back I noticed the front tire started rubbing a truss rod as if the wheel was untrue. It started getting worse and then BAM! the tube blew out. I must not have gotten the tire seated properly or something.
This is not how the bike will stay. I was just anxious to see how it rode.