I was under the 3 year old trailer diagnosing the brake wiring (the brake wiring was not supported over the axles and chaffed clear through on both axles) when I discovered a bigger problem. One spring bracket had both vertical tabs broken off and dangling. I don't know why I would assume the welding would be better than the wiring. See below for the failed and "good" spring brackets.
So lesson learned for me, check the trailer just like I would the race car. Structure sound, wiring good and all secured, tire pressure, brake function, lights.....
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This looks like failure from fatigue, not a failure of a weld. The spring hanger is a piece of flatbar bent into the "U" shape to fit the spring eye, then welded to the trailer frame. Looks like the weld held up just fine.
I also see there is a crack forming on the "good" hanger you pictured. You might want to have that repaired.
The only good way to repair something like this is to cut the weld holding the remaining piece and have a good welder (one who can weld upside down - very difficult - gravity wants to pull the puddle of molten metal downward) replace the hanger.
As far as trailer inspection and maintenance goes, my observation over the past 24 years hanging around the paddock has been that trailers are not at the forefront of focus, the race car is (and sometimes I wonder if drivers even pay attention to their cars).
I was in line outside SIR (Pacific Raceways for you n00bs) waiting for the gate to open on a Friday before a race weekend in 1990. Another racer pulled in behind me and we were talking, and I noticed that a wheel was completely gone from one axle on his trailer.
I pointed this out to him, an his response shocked me.
This was the first he knew of it, and he had driven up from Portland!
He said, "Meh, it's somewhere between Portland and here."
Not a bit of concern that the tire, wheel, brake drum and hub may have wound up in someone's front seat!