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From the American Horology Archive:
Elgin National Watch Co.

Grade: 349

Manufacturer: Elgin ?
Manufacturer Location: Elgin, Illinois ?
Movement Serial Number: 11416870 ?
Grade: 349 ?
Variation: No. 349 ?
Model: 7 ?
Class: 65 ?
Estimated Production Year: 1905 ?
Run Quantity: 1,000 ?
Grade/Model Run: 24 of 27 ?
Grade/Model Total Production: 27,500 ?
Variant Est. Production: 23,500 (18S-M7-21J-ONL-U-NO. 349) ?
Size: 18s ?
Jewels: 21j ?
Jewel Material: Ruby & Sapphire ?
Jewel Setting: Gold Settings (Screw-Set) ?
Movement Configuration: Openface ?
Movement Finish: Nickel ?
Movement Inlay Color: Gilt ?
Movement Setting: Lever ?
Plate: Full Plate ?
Double Roller: Yes ?
Barrel: Going ?
Train: Quick ?
Regulator: Traveling Nut (Spring) ?
Hairspring: Breguet ?
Pallet Jewel Material: Sapphire ?
Standard Dial Type: Double-Sunk ?
Adjusted: Yes ?
Adjusted to Position: Yes ?
Adjusted # of Positions: 5 ?
Adjusted to Temperature: Yes ?
Adjusted to Isochronism: Yes ?
Railroad Grade: Yes ?
Case: Various ?
Run ID: 4872.349G5.18S2328.187M98.O1508.L1624.21J125 ?
Data Research: 1904 Elgin Serial List
1915 Elgin Serial List
1927/1950 Elgin Serial List
?
Database Version: v52.978 ?
Advanced Metrics
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Registry Population: Scoped for This Run Only: 14 (1.40%) ?
$ Estimated Value (12 Month Change): +6.22% Analyzing 344 Sales ?
Research Note: This run is designated at Grade 252 in the 1904 and 1915 Material Catalog Serial Lists. However, in the 1927 serial list, the company reclassified the run as Grade 349. #11416586: Verified as marked "Elgin Nat'l. Watch Co. - U.S.A. - 21 Jewels - Adjusted. - Safety Pinion" with parallel damaskeening pattern, distinctive from the Grade 252 and the Grade 349. #11416004: Verified with features consistent with the Grade 349 classification.