Waltham Grade 625, 1908 model.

This balance wheel is not only seriously dirty but is has, not too long ago, been slathered in some sort of ordinary oil. In fact the whole movement was nearly dripping with it. That doesn't work. And it's a pain to get clean.

This Waltham has the "keyless works", the winding/setting mechanism, that a lot of Walthams have called a shipper. It has to be assembled with care to avoid losing the spring.

In this image, the round clamp holding the shipper is in place.