The most authoritative account of the history of Gruen Watch Company can be found here. Paul Schliesser has done a great job compiling and collecting all the pertinent info regarding the Gruen watch company so you should visit his site above.
I find that Gruen had been very innovative when it came to watchmaking giving us the Curvex in the 30s, the case and movement so designed to fit the wrist, the Pan Am models with sweep seconds, and that was in the 40's, still unheard of. And finally, my favorite and hard to come by, the Day/Night model where the hour markers change color to denote day or night.
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