San Carlos Race
San Francisco Speedway
1.25 Mile Board Oval
200 Laps/250 Miles
December 11, 1921
| Finish | Start | Driver | Car # | Sponsor/Name | Chassis | Engine | Laps | Status | 
               Points  | 
  
| 1 | X | Jimmy Murphy | 8 | Duesenberg | Duesenberg | Duesenberg | 200 | 2:15:11.2 110.957 | 500 | 
| 2 | X | Tommy Milton | 2 | Leach/Miller | Miller | Miller | 200 | 2:16:57.4 109.524 | 260 | 
| 3 | X | Eddie Hearne | 1 | Disteel/Duesenberg | Duesenberg | Duesenberg | 200 | 2:19:18.6 107.674 | 140 | 
| 4 | X | Harry Hartz | 16 | Duesenberg | Duesenberg | Duesenberg | 200 | 2:22:21.2 105.372 | 80 | 
| 5 | X | Ralph DePalma | 4 | Ballot | Miller | Miller | 200 | 2:24:00 104.17 | 50 | 
| 6 | X | Roscoe Sarles | 6 | Duesenberg | Duesenberg | Duesenberg | 200 | Finished | 35 | 
| 7 | X | Joe Thomas | 5 | Duesenberg | Duesenberg | Duesenberg | 200 | Finished | 25 | 
| 8 | X | Don Fretwell | X | Lanspar | X | X | 200 | Finished | 15 | 
| 9 | X | Bennett Hill | 9 | Frontenac | Frontenac | Frontenac | 195 | Flagged | 10 | 
| 10 | X | Eddie Miller | 11 | Duesenberg | Duesenberg | Duesenberg | 143 | Broken camshaft bearing | |
| 11 | X | Eddie Pullen | X | X | X | X | X | X | |
| 12 | X | Frank Elliott | 3 | Leach/Miller | Miller | Miller | 74 | Wrecked | 
Known riding mechanics in this race:
| Finish | Start | Driver | Mechanic | Car # | Sponsor/Name | Chassis | Engine | Laps | Status | 
| 12 | X | Frank Elliott | Herschell McKee | 3 | Leach/Miller | Miller | Miller | 74 | Wrecked | 
| Lap Leaders | Total | Laps | 
| Jimmy Murphy | 187 | 13-19, 21-200 | 
| Tommy Milton | 8 | 5-12 | 
| Joe Thomas | 4 | 1-4 | 
| Ralph DePalma | 1 | 20 |