This type of Elgin is prone to setting/winding issues, largely because of how it is designed. There are a few springs, which work against each other, to engage winding and setting. These springs are prone to breaking, and just getting old and losing tension. There's an added complication here. It looks like someone has butchered the screw end area of this (by the way broken) spring. I'm not sure what's going on there...

This image is of a different watch showing the area shown above. This shows the spring arrangement as it should be.
This is a grade 117 Elgin, 6 size, 7 jewels, made about 1893.
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