The movement is clearly marked “Malco”, with:
15 jewels
2 ADJ (two-position adjustment)
A small manual-wind mechanical movement
Ruby jewel bearings
A distinctive Art Deco/early streamlined case shape
A gold-colored case and matching bracelet
The movement appears to be a Swiss-made/private-label type rather than a major American manufacture such as Elgin, Hamilton, or Waltham.
The bracelet appears to be an important part of the original presentation. It has the appearance of a period expansion/flexible bracelet, rather than a modern replacement.
