Mid 50s Elgin Penrod
This was a low end Elgin, selling for $29! The Penrod though, is as fancy as the best of the Lord Elgin line. It uses case number 6528. The caseback is stainless steel, and I believe the bezel is 10k gold filled.
It uses the 17 jewel, 673 movement, adjusted from the factory to 4 positions.