This one's inspiration is easy to spot if one is up on one's history. American movie star Grace Kelly married Prince Rainer of Monaco in April of '56. This issue would have hit the stands in October which means it was probably written and drawn by May or June at the latest.
GCD credits the cover to Sprang and Kaye, the splash to Swan and the story itself to Sprang, inked by Swan and Kaye.
Basically, both Superman and Batman pretend to vie for the love of a visiting Princess--much to the annoyance of Lois Lane and Batman's version of her, Vicki Vale.
It's all a trick, naturally, to set up some bad guys and, in the end, get some good press for her true love, Stefan!
Bob Oksner was now doing the BINKY PSAs and doing them very well.