Elgin Grade 207

This is an Elgin grade 207. It is 18 size, 7 jewels, lever-set, and this one was made about 1902. 

This watch had a lot of problems running in different orientations. It's one of those cases I see a lot, where prior repairers have significantly tweaked the balance cock to move it up and down by using a graver to raise divots in the top plate.

Also, of note is the serial number prefix symbol on the underside of the balance cock.  It looks like Pac-Man!

The underside of the balance cock is badly filed away to allow the balance wheel to clear, rather than to fix whatever the trouble was that caused it to rub in the first place.

With all this, it's nearly impossible to get the parts back into shape so the balance cock securely fits right as it needs to be. In this case, I also discovered that the lower balance jewel was not a correct Elgin part, but something else. That was likely at least one of the things that lead to all the trouble in the first place.

Here's a detail of the lever pulled out to engage setting mode.