The 20th International 500-Mile Sweepstakes Race was held at the Indianapolis Motor Speedway on Monday, May 30, 1932. Attrition is the story of the race, with 26 of the 40 cars dropping out due to crashes or mechanical failure. A record eight different drivers led laps during the race, with no driver seemingly able to hold the lead without experiencing some sort of trouble. For the third year in a row, Billy Arnold looks as if he will be the dominant car, but he sailed over the turn three wall on lap 59. Rookie Bob Carey also hit the wall while leading. Fred Frame took the lead for good on lap 152, and won from the 27th starting position - the furthest back of any winner except for Ray Harroun in 1911. Frame was accompanied by riding mechanic Jerry Houck.

In the third year of the "stock-based" formula (also known as the "Junk" formula), speeds were beginning to increase once again, but not quite to levels seen in the late-1920s. Lou Moore qualified for the pole position with an average speed of 117.363 mph, the fastest time trial run in three years. Likewise on race day, Frame's winning average speed of 104.144 mph broke Peter DePaolo's record set back in 1925.

The race was part of the 1932 AAA Championship Car season. The month was marred by two fatalities during practice. Riding mechanic Harry Cox was killed in a crash on May 25, and driver M. C. Jones died from injuries suffered in a crash on May 27.

The deadline for entries to be received was midnight on Monday May 2. Teams and drivers began arriving at the Speedway in early April, setting up shop in Gasoline Alley. In addition, Tom Beall's popular diner was already open in the garage area.Tony Gulotta was on the track in the Hunt Special on April 6, as was Lou Moore in the Boyle Valve Special. Making news in mid-April was Argentine driver Juan Gaudino, who arrived on April 13 to enter the race for the first time. Gaudino had intended to enter in 1931, but withdrew after a crash in South America just before he was to make the trip.

...
Wikipedia