The Chrysler Bldg. (1046') won the battle with the Manhattan Co. (40 Wall St., 927') by hoisting a hidden and secret spire up the elevator shaft on October 23, 1929, the same week the stock market started the climactic phase of the crash. Less than one year later Chrysler lost the height war for good when the Empire State Building (1250') rose higher as the economy plunged into the abyss of the Great Depression. Both the Chrysler building and the Empire State building (derisively called the "Empty State Building" in the 1930s) didn't reach full occupancy until the 1950s.
Video, about 12 minutes & very interesting, from "All Things Architecture"/"Architecture by Design" on youtube:
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Building the Empire State Building; documentary from "It's History" on youtube:
• Video Link