You never know what you'll find when you get into a watch. This one looked very clean from the back. It did not run, and the balance was not free, but in much of these cases that is only because of gummy old oil. However, in the dial side, and under the ratchet wheel, there was quite a bit of staining from rust.
Rust does has no effect the nickel plated parts, so it will come right off, but it is coming from someplace.
This movement is an Elgin grade 315. It is a 12 size, 15 jewel, design, this one made about 1924.
I have mentioned in the past how we sometimes see the top of the cock for the pallet fork filed down to allow more clearance for the balance (in place of fixing the actual problem causing the balance arm to ride too low).
On this watch that part has all the nickle plating ground clear off. It's bare brass on top. The part is in the image on left, visible before the balance cock is in place.
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