On the afternoon of Oct. 29, 1929, as the last coat of paint was being applied to the towering minaret of Montrose's newest movie house, reports of the collapse of the stock market on Wall Street swept across the nation, leaving in its wake a state of bedlam and panic. At the same time, the mayor of New York City, James "Jimmy" Walker, was addressing a convention of film exhibitors at the Astor Hotel, begging them to "show pictures which will reinstate courage and hope in the hearts of the people."

Despite the chilling effect of the stock market crash two days earlier, the Fox Theatre opened to warm reviews from Montrose residents on Halloween night, Oct. 31, 1929. Against a bright orange background with lettering done in heaven blue and silver, the words, "All Ye Who Enter Here, Leave Worldly Cares Behind," greeted movie-goers