So, here's the speaker that goes with the Radiola 17 - it's a 1927 RCA Radiola 103. It still has the original tapestry grill cloth - but it is badly damaged.

The base and ring have a couple of damaged areas.  These speakers were made in a mold using a sawdust and glue material that was later stained and made to look like wood.

Step 1: as usual, take it apart! The base unscrews from the ring and the speaker unscrews from the back. 

The red ring is actually a remnant of the cloth cover that once was installed on the back to keep out dust and hide the speaker.  Now, I use water putty to build up the damaged areas and fill in the cracks.

After a little while, the putty starts to harden - before it completely dries, I do a little carving for the basic shape that needs to be made.  I admit, I'm not really very artistic when it comes to this stuff and this is a little beyond my skills.

Once the putty is fully cured, final shaping can be done.  Another coat of putty will be require to finish this up.

Not bad for my first attempt!  I'm going to let this dry for at least 48 hours before finishing.

Here's the first coat of finish - probably need several more to get it just right.

Here's how it looks after about 4 coats.

After it's completely dry, I can put it back together.  I decided to try to find a floral tapestry with the same theme as the original (flowers in a vase) instead of trying to restore or reproduce the original.  I had previously contacted several embroidery shops regarding reproducing the original design, but it is very cost prohibitive (~$350+).  A silk-screened reproduction is also available, but I figured that it would make no difference using that versus something else from a collectability standpoint. Here's what $5 will get you on eBay:

Next, I need to finish the back - the original had a paper cone over which was draped a fabric cover.  Here's what the cone looks like laid-out flat.

Next, I work on the fabric cover - here's a shot of the original fabric on the fabric I found ($4 - guess where?). The color and texture are a very close match.

Here's the fabric laid-out flat.

The fabric cone is secured to the speaker frame with a string that runs along the outside edge.  This will have to be sewn-in and the edge will need to be sewn as well. Here it is after pressing and sewing.

After the sewing is done, all that is left to do is affix the cone and cover to the speaker.

And finally, the "flower" at the center.

The finished product turned out pretty nice - the repairs are practically undetectable and I kind of like the colorful design I found better than the original.

Here's what the original looked like.

The only thing left to do is to hit this with some 0000 steel wool to give it a more satin finish.  Or, I can see how it looks on the radio.

I like it! I think I will leave it as is for now.