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Sorry but that looks pretty sad under there.
Those old bolts, plates and springs need to be replaced at a minimum.
Check out Northern Tool for the parts.
 
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In the 2nd photo, the curved mounting plate looks like it has broken loose from the trailer. Notice that the spring shackle bolt attaching to it on the left is lower than the one on the right.
Another way of saying it is the lower arc of that curved plate should be at the bottom corners of the vertical plate. The right side is not. It is raised up.

I would suspect a broken weld to the vertical plate.

With that much shift, I would give a close inspection to the shackle and attachment on the other end of that right side spring.
 

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Ayuh,.... The equalizer, the curved piece, is Suppose to be bolted to the frame, where the steel plate was welded, 'n since busted out,....

That wagon looks like it needs a Frame 1st, then rebuild the suspension,.....
 

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Discussion Starter · #5 ·
In the 2nd photo, the curved mounting plate looks like it has broken loose from the trailer. Notice that the spring shackle bolt attaching to it on the left is lower than the one on the right.
Another way of saying it is the lower arc of that curved plate should be at the bottom corners of the vertical plate. The right side is not. It is raised up.

I would suspect a broken weld to the vertical plate.

With that much shift, I would give a close inspection to the shackle and attachment on the other end of that right side spring.
Thanks. That's what I noticed first as well. I thought the equalizer was broke. It is mounted with a hidden bolt and pivots. I'm not sure but I wondered if its suppose to be that way, (movable).
 

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Discussion Starter · #6 ·
Ayuh,.... The equalizer, the curved piece, is Suppose to be bolted to the frame, where the steel plate was welded, 'n since busted out,....

That wagon looks like it needs a Frame 1st, then rebuild the suspension,.....
Thank you. The equalizer is mounted with a bolt. The head of the bolt is hidden inside the u tube cover. I didn't know if the equalizer was suppose to pivot or be mounted tight. I'm replacing the equalizer and shackles. I wasn't sure if I should drop the equalizer some, away from the frame. I thought the spring and shackle connection might be too close to the frame. The frame is actually pretty solid, even though the picture .....
 

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Ayuh,.... The scab patched welded to the frame say otherwise,...

The equalizer is supposed to have it's own mount, 'n it rides on a bolt,...
No, it shouldn't be tight to the frame,....

If the big patch is hidin' the equalizer bolt, what's the smaller patch next to it hidin',..??

Ya got alota worn out, rusted up parts in there,....
What do the hangers on the outer ends of the springs look like,..??

It appears ya need a few hundred bucks in parts, 'n a day with a welder, 'n grinder,....
 
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