The 7 jewel, lever-set movement would seem to have been made by the short lived Aurora Watch Co., in the US. As an aside, I'm not sure these qualify as a private label because it seems that Aurora only made movements for exclusive dealers in given regions.
However, this particular movement's design does not exactly match any known Aurora products. The serial number also makes no sense in a context of Aurora products. What is is this watch?
It is very, very similar to 18 size Walthams of this era. The dial side is different, particularly the ratchet, but just the same, it's obvious what the designers were looking at when them made these.