Back row: Pony 135, Pony 135 model B, Pony 135 model C
Front row: Pony II, Pony IV with flash
Introduced: 1950
Discontinued: 1954
Lens: Kodak Anaston f/4.5-22 51mm in a collapsing lens mount.
Shutter: Kodak Flash 200 (1/25, 1/50, 1/100 and 1/200 plus bulb)
Flash connection: ASA bayonet
Kodak Pony 135 model B
Introduced: 1953
Discontinued: 1955
Lens: Kodak Anaston f/4.5-22 44mm in a collapsing lens mount.
Shutter: Kodak Flash 200
Flash connection: ASA bayonet
Kodak Pony 135 model C
Introduced: 1955
Discontinued: 1958
Lens: Kodak Anaston f/3.5-22 44mm in a rigid lens mount.
Shutter: Kodak Flash 300 (1/25, 1/50, 1/100 and 1/300 plus bulb)
Flash connection: ASA bayonet
Kodak Pony II
Introduced: 1957
Discontinued: 1962
Lens: Kodak Anastar f/3.9-22 44mm in a rigid lens mount. The aperture ring is marked only in EV numbers.
Shutter: Single speed flash (about 1/60)
Flash connection: Kodalite pin and screw
Kodak Pony IV
Introduced: 1957
Discontinued: 1961
Lens: Kodak Anastar f/3.5-22 44mm in a rigid lens mount. The aperture ring is marked in EV numbers on the top and f/stops on the bottom.
Shutter: Kodak Flash 250 (1/30, 1/60, 1/125, 1/250 plus bulb). The shutter speed ring is marked in EV numbers on the top and fractions of a second on the bottom. Add the aperture EV to the shutter EV to get the exposure value. The Argus Match-Matic that came out in 1958 uses the same method for setting the exposure.
Flash connection: Kodalite pin and screw.
The Pony IV has a retaining ring for Series V drop-in filters built in. The other Pony cameras use a slip-on 1-1/8 inch (28.5mm) Series V filter adapter.
The exposure value (EV) is equal to the base 2 logarithm of the square of the focal ratio times the reciprocal of the shutter speed. A focal ratio of 16 and a shutter speed of 1/125 (log2(16 x 16 x 125)) gives an EV of 15.
The Ponies, with the exception of the Pony II, are still reasonably usable. I think the single speed shutter of the Pony II is just a little too limiting. Because the shutter and aperture settings on a Pony IV are interconnected, you need to remember to set the shutter speed first. If you set the aperture first, setting the shutter speed will change the aperture.
There was a 1949 Kodak Pony 828 that took Bantam 828 film, which had eight 28mm x 40mm pictures on a 35mm wide roll. It closely resembled the first Pony 135. The Pony 828 was discontinued in 1958.