Elgin made a few grade early on that have male winding arbors, or stem. For these movement a square arbor sticks out of the movement into a square hole in the stem, in the neck of the watch case.
Most vintage American watches are the reverse, having the male part in the case, and a square hole in the winding arbor in the watch.
Cases for the older type, like this one, are extremely rare.
Note the square arbor sticking out at 3:00.
Also, this is an example of the hunter movement. The stem is 90 degrees from the seconds dial.
This watch is Elgin's grade 95. It is a lever-set 6 size, 7 jewels, made about 1891.
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