Gonna throw this little guy together soon so I figured while I had the welder set up I'd fix this stretched and chipped left dropout. Basically what I did was throw a small bead to fill in the chipped area and then with my lovely wife's assistance addressed the stretched metal. I pushed some welding rod (with the welder) into the stretched corner right where the arrow is. Then while it was still red hot I had wifey tap it with a brass hammer. until it was parallel. It was kind of bent too so I massaged it a tad more with the hammer and carefully (that's the side with that valuble serial number) ground it smooth. I masked the serial number with some heavy duty tape also.
Before:
After:
Just like new.
Before:
After:
Just like new.