Business: Fallen Comet

Word of the spectacular Chicago business team of Bertram James Grigsby and William Carl Grunow spread into Wall Street in the late days of the Bull Market. Mr. Grigsby was a precise, poker-faced operating man. Mr. Grunow was an explosive, moon-faced salesman. Together they ran, in a belligerently unorthodox manner, Grigsby-Grunow Co., makers of Majestic radios and electric iceboxes. Unlike most makers of radios and electric refrigerators, they made money hand over fist. In the clear blue firmament of 1929, Grigsby-Grunow stock was a comet.

Early in 1931 Depression sniffed at the Grigsby-Grunow door....