Answered part of my own question. Julian Petty's name wasn't mentioned in association with Welborn's in in the qualifying race. And I have zero confidence that he was involved with building Lee Petty's Olds for the 500. But with this sketchy history, I could be proven wrong.
I noticed this trivia nugget when reviewing the write-up for Julian at findagrave.com . Chassis builder at H&M? Can anyone shed any light as to accuracy of that statement?
Julius "Julie" Petty was a NASCAR pioneer, engine builder and chassis specialist, and a championship car owner in NASCAR's now defunct convertible series in the 1950's with drivers such as Jimmy Lewallen, Herb Thomas, Bob Welborn, Jim Paschal and many others. Julie Petty's cars won the first sanctioned race at the Daytona Int'l Speedway in NASCAR Grand National Series in 1959. He built and owned the first "Petty Special" Plymouth, driven by his brother, Lee, father of "The King" Richard Petty, Julie's nephew. Later in his career became the leading chassis builder for the famous Holman - Moody racing organization . Julie Petty's cars won championships in '57,'58 and '59.
I've got my doubts since there seems to be other inaccuracies here:
Wonder if this obituary for Grace D. Petty is what you were thinking about. Looks like she was married to a W.N. Tyner (who died in 1958 ) and was Roy Tyner's mother. She later married Julian Petty. (Assuming its the same Tyner and J.H. Petty.)
Ms. Grace Dorman Petty, 93, of Red Springs, formerly of 132 N. Hill St., died Sunday, Aug. 20, 2006, at Wesley Pines in Lumberton.
A graveside service was conducted on Tuesday, Aug. 22, 2006, in Alloway Cemetery in Red Springs. The Rev. David McGugan officiated.
She was preceded in death by her first husband, W.N. Tyner; her son, Roy Tyner; her second husband, J.H. Petty; and her parents, Willie O. Dorman and China Stewart.
She is survived by two daughters, Elizabeth Ann Garner and Peggy Dorman Townsend, both of Red Springs; seven grandchildren; and eight great-grandchildren.
Interesting. A family connection might make sense considering Julian apparently sold his convertible racing equipment to Tyner in 1958. So far, I haven't been able to identify the name of Julian's wife or children. But maybe if I start looking at Roy Tyner's ancestry, I'll ID his wife's maiden name.
Guarantee I'd answer the phone if FOX called. I work cheaper, am more knowledgeable, and am better looking than DW.
Two more I found this afternoon:
Sometime in mid 1960s
1958 with his crew and his convertible raced by Bob Welborn. (Julian is 2nd from the right)
Only photo I think I've seen of Julian is this one from a Richard Petty - STP 25th Anniversary book. I remember my eyes widened when I realized (1) the photo included Julian and (2) he and Lee had another sibling.
Being the loyal Petty fan that I am, I've already pinged the webmaster of that site to update them a bit more on the lineage of the racing Pettys. 
Found a bit more. Somewhere along the way, Julian relocated from Greensboro to Black Mountain. He passed away in nearby Asheville [ according to this site ] and was buried back in Greensboro in Forest Lawn Cemetery.
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Details about the life and racing career of Lee's brother - Julian Petty - are tough to come by. Last weekend, I posted about Jim Paschal's win at Spartanburg while driving for Julian Petty.
http://racersreunion.com/community/forum/stock-car-racing-history/24202/racing-history-minute-june-2-1961
Andy DeNardi asked whatever happened to Julian - and I really didn't have much of an answer. But here a couple of pieces of info I've managed to cobble together.
