This is the pinnacle of Railroad Pocket Watches...The "Up/Dn Indicator". This very special feature, shown on the small dial under the 12 o'clock position, "indicates" how many hours of service are left to operate at full efficiency. This "Up/Dn Indicator is a Waltham, 23 jewel, "Vanguard" Yep, it's hi-grade! As an interesting aside in 1891 there was a head-on crash between two railway trains, Lake Shore and Michigan Southern, near Kipton, Ohio. There was conjecture about what caused the the crash...some say that the engineers watch stopped for four minutes and then started-up again and others say that the stem pulled out and altered the correct time. Either way the fast mail train was coming through and, although the engineer thought he was at at the crossing at the correct time, he was in fact, four minutes late and the resulting tragedy made the American government take notice. A railroad commission was established headed by Webb C. Ball who was a Cleveland jeweler. The railroad officials asked Ball to establish strict standards for railroad watches that would assure accuracy and regular inspection backed by stringent record keeping for each individual timepiece. Prior to this time all manner of clocks and watches were used to time the movements of the trains. Each railroad had its own standards and there was no universal compliance. Once Ball established the high water mark for ruggedness and accuracy the manufacturers set about meeting those standards and soon there was a list of the companies that could meet these new Railroad Standards. Ball became the general time inspector for over 125,000 miles of railroad in the U.S., Mexico, & Canada. This is how the expression "on the ball" came into the vernacular. This particular Waltham Indicator is 16 size, 23 jewel, lever set, three quarter plate nickel movement, has gold jewel cups and a special marking on the winding wheel which states that has a "Lossier Inner Terminal Hairspring"... a new development in watch making when this wonderful timepiece was made circa 1926. This fantastic movement is housed in a screw back/screw bezel, steel case (very rare). Most railroad watches were in yellow gold filled cases. Make sure you notice the gold jewel cups, interesting damaskeening pattern on the plates, and the pristine condition of the movement. Our master watchmakers have it running, winding, and setting so that it could pass railroad inspection today. Remember all our timepieces are fully restored and warrantied for a year for parts and labor so that you may buy with confidence.