What is a common failure mechanism for above ground atmospheric storage tanks?

Tanks constructed prior to the 1950's are notorious for failing along the shell-to-bottom seam or on the side seam. The principle reason for this is that these tanks were constructed before there were established procedures and codes for such a tank (Ex/ API-650 "Welded Steel Tanks for Oil Storage"). One of the key features of these codes and procedures was to make sure that tanks were designed to fail along the shell-to-seam such that the liquid remained largely contained.