Guessing a IMCA Sprint car race mid 50's. early 60's #38 Mercury Flathead, and the Studebaker looks like OHV engine to me in the picture, old car, wire wheel car, not a high buck deal/team. When I find a picture I post info with it and photographer if included. The Offy was king into the 60's, many started running the OHV engines that became available and eventually the SBC chevy became dominate. Andy Granatelli was involved in a Indy Car with a studebaker engine. My Dad had a midget in the late 50's into 60's with a flathead Studebaker that was pretty good against the Ford V8 60. We had a very successful Studebaker Midget racer named Landy Scott in BMARA in 40's/50's. The Offy was king of the Midgets till mid 70's then the SESCO Chevy took over, many competitive Chevy II, Ford Falcon engines and a family friend, Frank Kater #77 had a aluminum 215 Buick destroked with Mickey Thompson Indy car engine parts that won a lot of races in Wi./Midwest 60's 70's.
I'm Wisconsin guy, home of Nash cars, you saw a lot of Nash's in Milwaukee. Dad had several, I seem to remember him having one like that, he had a 2 door I remember with a continental kit, 2 carbs on a 6 cylinder engine, pretty kool car I thought at the time.
Board track racers. 75-100 mph on a motorcycle with only a wide-open throttle and no brakes. If you wanted to slow down you'd hit a lever or switch that would shut off the engine momentarily, then it went wide-open again when you released the control.