Pole position winner Billy Arnold took the lead on lap 3, and led the entire rest of the race.

Contrary to popular belief, the rule changes were not made in response to the stock market crash of 1929.

The rules package is sometimes referred to disparagingly as the "Junk Formula" or the "Junkyard," and a common misconception is that it was implemented in order to dumb down the cars and maintain full fields during the Great Depression.

It was his vision at the time to bring the Speedway back to its origins and roots as a "proving ground" for the passenger car industry.

By Monday May 19, a total of ten cars had taken to the track, with Louis Schneider (105 mph) posting the fastest lap thus far.

[7] Meanwhile, Harry Hartz, who had not yet taken any laps in his front wheel drive Miller Special, was still expected to qualify come Saturday.

Speculation was growing that Hartz was preparing to hand the car over to either Hepburn or Arnold, but no official arrangement had been announced.

After practicing on Friday at over 111 mph, and being a favorite for the pole position, Louis Meyer fell short of expectations.

Meyer qualified second, owing to an ill-conceived gear ratio change the team decided to make on Saturday morning.

Rookie owner/driver Julius C. Slade quit his run after only two laps, then eventually would hand the car over to Roland Free.

Bill Cummings led the speed chart for the day, with a run of 106.173 mph, the fourth-fastest car in the field.

Cummings day was not without incident, as he nearly involved in an accident along with Peter DePaolo as they drove the car to the Speedway grounds.

Clemmons was unable to secure a chassis for his 4-cylinder Hoosier Pete engine, so he allowed Decker to install it in his car.

After two failed attempts, Rick Decker finally made the field, after he finished installation of the Hoosier Pete engine.

Doc MacKenzie never made it out to the track, and Sam Greco threw a rod with only thirty minutes left in the day.

Sources:[1] Louis Meyer in his 16-cylinder Miller grabbed the lead at the start, out-dueling polesitter Billy Arnold on the first lap.

Chet Gardner was out on the first lap after he spun and brushed the wall on the north end, damaging his left front wheel.

Fred Roberts (driving relief for Pete DePaolo) lost control and crashed in turn three.

The cars of Johnny Seymour, Babe Stapp, Lou Moore, and Marion Trexler also got caught up in the incident.

After leading early, Louis Meyer was forced to make a pit stop on lap 22 to repair a broken throttle connection.

His brother, riding mechanic Paul Marshall, was thrown from the car, and died of a fractured skull.

One of the most famous nostalgic stories of Indianapolis 500 lore occurred with driver Chet Miller during the 1930 race.

Race officials would not let Miller return to the track until repairs were made, so the crew began a search for suitable replacement parts.

Within a short time, the crew spotted an unattended Model T, that ostensibly belonged to a spectator, parked nearby in the infield.

With the owner nowhere in sight, the crew proceeded to remove the spring they needed, and subsequently installed it on Miller's race car sitting in the pit area.