UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D/A

UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)

LADISH COMPANY, INC.
(Name of Issuer)

COMMON STOCK, NO PAR VALUE
(Title of Class of Securities)

505754200
(CUSIP Number)

David J. Allen, Esquire
290 South County Farm Road, Third Floor
Wheaton, Illinois  60187-4526
Telephone:  (630) 588-7200
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

March 21, 2003
(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on
Schedule 13G to report the acquisition which is the subject
of this Schedule 13D, and is filing this schedule because
of Section 240.13d-l(e), 240.13d-l(f) or 240.13d-l(g),
check the following box.  [  ]

NOTE:  Schedules filed in paper format shall include a
signed original and five copies of the schedule, including
all exhibits.  See Section 240.13d-7(b) for other parties
to whom copies are to be sent.

The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover
page shall not be deemed to be "filed" for the purpose of
Section 18 of the Securities Exchange Act of 1934 ("Act")
or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the
Act (however, see the Notes).

 2
Schedule 13D/A

CUSIP No. 505754200  Page 2 of 5 Pages

1. Names of Reporting Person
S.S. OR I.R.S. Identification No. of Above Persons

Grace Brothers, Ltd.

2. Check the Appropriate Box if a Member of a Group (See
instructions)
(a) [X]
(b) [ ]

3. SEC Use Only

4. Source of Funds (See instructions)

WC

5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)  [  ]

6. Citizenship or Place of Organization

Illinois Limited Partnership

              7 Sole Voting Power
Number of       3,858,973
Shares
Beneficially  8 Shared Voting Power
Owned by        0
Each
Reporting     9 Sole Dispositive Power
Person          3,858,973
With         10 Shared Dispositive Power
                0

11. Aggregate Amount Beneficially Owned by Each Reporting
Person

3,858,973 shares

12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See instructions) [  ]

13. Percent of Class Represented by Amount in Row (11)

29.7%

14. Type of Reporting Person (See instructions)

BD, PN

 3
Schedule 13D/A

CUSIP No. 505754200  Page 3 of 5 Pages

1. Names of Reporting Person
S.S. OR I.R.S. Identification No. of Above Persons

Spurgeon Corporation

2. Check the Appropriate Box if a Member of a Group (See
instructions)
(a) [X]
(b) [ ]

3. SEC Use Only

4. Source of Funds (See instructions)

WC

5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)  [  ]

6. Citizenship or Place of Organization

Illinois Corporation
              7 Sole Voting Power
Number of       0
Shares
Beneficially  8 Shared Voting Power
Owned by        3,858,973
Each
Reporting     9 Sole Dispositive Power
Person          0
With         10 Shared Dispositive Power
                3,858,973

11. Aggregate Amount Beneficially Owned by Each Reporting
Person

3,858,973 shares

12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See instructions) [  ]

13. Percent of Class Represented by Amount in Row (11)

29.7%

14. Type of Reporting Person (See instructions)

CO

 4
Schedule 13D/A

CUSIP No. 505754200  Page 4 of 5 Pages

1. Names of Reporting Person
S.S. OR I.R.S. Identification No. of Above Persons

Bradford T. Whitmore

2. Check the Appropriate Box if a Member of a Group (See
instructions)
(a) [X]
(b) [ ]

3. SEC Use Only

4. Source of Funds (See instructions)

WC

5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)  [  ]

6. Citizenship or Place of Organization

USA
              7 Sole Voting Power
Number of       0
Shares
Beneficially  8 Shared Voting Power
Owned by        3,858,973
Each
Reporting     9 Sole Dispositive Power
Person          0
With         10 Shared Dispositive Power
                3,858,973

11. Aggregate Amount Beneficially Owned by Each Reporting
Person

3,858,973 shares

12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See instructions) [  ]

13. Percent of Class Represented by Amount in Row (11)

29.7%

14. Type of Reporting Person (See instructions)

IN

 5
Schedule 13D/A

CUSIP No. 505754200  Page 5 of 5 Pages

Item 1. Security and Issuer

This Schedule 13D/A relates to the Common Stock, par value
$.01 per share (the "Common Stock") issued by Ladish
Company, Inc., a Wisconsin corporation (the "Company"),
whose principal executive offices are located at 5481 South
Packard Ave., Cudahy, WI  53310.

Item 4.  Purpose of Transaction

Grace has begun to question the effectiveness of the
current Board of Directors and is considering various
options to improve that effectiveness and maximize
shareholder value, including without limitation possible
changes in the composition of the Board.  The Filers have
commenced, and intend to continue, discussions with current
board members and/or engage in discussions with other
stockholders.  The Filers will continue to assess their
investment in the Company and the various alternatives
available to them to maximize shareholder value.  The
Filers may, depending on market conditions and other
factors they deem material, purchase additional Common
Stock or dispose of all or a portion of the Common Stock
that they now own or any Common Stock they may hereafter
acquire.

SIGNATURE

Each of the Filers, after reasonable inquiry and to the
best of each of their individual knowledge and belief,
certify that the information set forth in this statement is
true, complete and correct.

Dated: March 21, 2003

GRACE BROTHERS, LTD.


By: /s/ Bradford T. Whitmore
Name:  Bradford T. Whitmore
Its:  General Partner

SPURGEON CORPORATION


By: /s/ David J. Allen
Name:  David J. Allen
Its:  Vice President


BRADFORD T. WHITMORE, individually


By: /s/ Bradford T. Whitmore