This movement was originally manufactured in 1927 by the Elgin National Watch Company just outside of Chicago. The 'B.W. Raymond' model takes its name from the third mayor of Chicago, and for many years the grade represented Elgin's high-end, performance focused watches with accessible pricing.
This particular grade 472 movement has an Invar balance. Invar, a nickel and steel alloy, is highly resistant to expansion and contraction caused by temperature. It was invented by Charles Guillaume in 1896, who won a Nobel prize for the alloy, and Invar balances were commonly paired with Elinvar hairsprings (a derivative of Invar) on the best railroad watches.
This excellent condition piece features straight Geneva stripes on 3/4 style nickel plated bridges, a circular graining pattern on the main plate, 21 precision cut ruby and sapphire jewels, gold jewel settings, a gold center wheel, a Ball style whipspring regulator, adjustment to 5 positions, and adjustment for temperature.
The heavy whipped-spade style hands point to clean, bold, black, 'boxcar' style sans-serif Arabic numerals on the pristine condition, original, white, single sunk enamel dial marked 'Invar Balance'. This movement is one of 21,000 grade 472 watches ever made.