Wow, lots of guesses. Unfortunately the guitar is not still around. My grandma says it was either sold or 'wore out' eventually. It may have been bought out of a Sears catalog, but Grandpa was a coal miner at that point and had two kids so I can't imagine much money was spent on it.

Like I said I was just curious.   I guess it will probably remain a mystery. On the upside I got some interesting stories from my grandma today while trying to get more info about it.