I believe this to be a very early Watertite with a very low serial number. As with all of my watches it runs very well and has been dis-assembled and cleaned and re-assembled and oiled. Hands need a relume and will get it when I have the time as I have about 50 hands to relume. Dial is in good shape and only need numerals relumed.
There is a 1943 model with a lower inside case s/n than this, of 273. I do not think this number is a case s/n as we know it, the difference with JP's number 479 and the above 273 for a watch that is a year younger than JP's seems to refute the theory as it is a lower number. Maybe a test run number as Will suggests?
In reply to Sounds reasonable to me. I by JP