Got the car into today at the local Studebaker shop. Find out the "frame" is not really a frame at all. Instead really just a design to stiffen the body up. Its a thinner metal and 3 sided. A true frame would not really look like this.

Anyway, cleaned it all up and did some welding of the hole. Turned out pretty well. I will get a few pics up when I can. Overall I feel safer driving.

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1991 560 SEL / 185k miles
1992 750il / 17k miles - project car