Jim Khougaz campaigned his '32 roadster successfully at El Mirage from 1946-1950. At first, it was a dual-purpose street and lakes car, but by 1949, with a tank full of methanol and a full bellypan, it could top 140 mph. It was sold in pieces to a dentist in Indiana in 1995. It has since been restored.
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The banner on the garage roof is obviously an enlargement of the photo linked below.
Links: www.hotrod.com, www.drmarksoldcars.com