Plenty of surface rust.

“What we have here is an early Willys MBT 1/4 ton trailer. Best for parts, or a low cost restoration item. Chassis is solid, early cast center willys axle, cotter pin shock mounts, lunette mount is nice, has ebrake assembly, flat tow hooks. No ID plates other than a PA ID plate, bill of sale only, no title. I have correct 16″ jeep wheels if wanted. Really rare early production, only a few made with the cast center axle. Body is quite rusty and beat up. Will trade for other MB, 2A, 3A, 3B, M38 or 58-62 Willys pickup parts (Body tubs, rolling chassis, parts vehicles, clean sheetmetal, etc) or?”

http://newjersey.craigslist.org/pts/5881485009.html