Padded corners were fancy at the time. I remember that in 1962 Benny Paret was killed in the ring corner, his head trapped under the ring-ropes and against the metal post. Padded corners became obligatory after that.
But there's no indication here that the canvas is stretched on top of any padding, or indeed that there's any canvas stretched at all. The ropes(?) hanging from the lamps looks to be in the way, indicating unfinished work: maybe some sort of felt-mat, a canvas and the means to stretch it has yet to arrive.
That the ring is elevated and standing in the middle of the room, indicates that it is not to be used merely for training, but also for exhibited bouts. Regards, Stein.