This took a bunch of research, but I'm pretty sure I've nailed it. The speedway was called Devils Bowl Speedway and ran in the late '30s under the promotion of the Aurora Auto Club. Races were held on Sunday afternoons with 3 alternating classes... jalopies, midgets and motorcycles. Midgets were the headliner. The track definitely ran in 1939, and at some point during that year, the track was reconfigured into a 4/10. An article I found while researching referenced the track being an amphitheater and call it the "all new" speedway. I took this to mean it was built at the bottom of a small steep hill.
If anyone is interested in researching this track, it was located on what is now known as Jewitt Holmwood Road (CR 368). To get there, start at the corner of Route 20A and Jewitt Holmwood. Head south on Jewitt Holmwood until you cross the creek. The 2nd house on the left is the property where the track sat, but you need to go past the house to get where the track was. Across the street is another house with a 20 x 20 barn. Stop at the end of that driveway. Directly across the road about 40 yards in is where the track was.
This 1951 aerial map shows the outline of the track, and believe me... finding this one was a bear.
http://www.erie.gov/aerials/1951/photos/51_4H8.jpgIt appears as though the track repoened after WWII because it is in raceable condition in this photo. It also looks as if there was current use of the track based on the grass being worn leading to the track. I wish we could pull in closer on this track without distortion because it looks like a car is on the track taking practice laps... that would be a first in these aerial maps.