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From the American Horology Archive:
Elgin National Watch Co.

Grade: 454

Father Time

Manufacturer: Elgin ?
Manufacturer Location: Elgin, Illinois ?
Movement Serial Number: 23213839 ?
Grade: 454 ?
Variation: Father Time ?
Model: 15 ?
Estimated Production Year: 1921 ?
Run Quantity: 2,000 ?
Grade/Model Run: 6 of 52 ?
Grade/Model Total Production: 64,000 ?
Variant Est. Production: 64,000 (16S-M15-21J-ONL-U-FATHER TIME) ?
Size: 16s ?
Jewels: 21j ?
Jewel Material: Ruby & Sapphire ?
Jewel Setting: Gold Settings (Screw-Set) ?
Movement Configuration: Openface ?
Movement Finish: Nickel ?
Movement Signing Style: Mixed ?
Movement Inlay Color: Gilt ?
Movement Setting: Lever ?
Plate: 3/4 Plate ?
Double Roller: Yes ?
Barrel: Going ?
Train: Quick ?
Regulator: Traveling Nut (Spring) ?
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 ?
Wind Indicator Available: Yes ?
Wind Indicator Present: No ?
Wind Indicator: No ?
Movement Markings: Father Time Elgin Nat'l Watch Co. U.S.A. 21 Jewels Adjusted 5 Positions ?
Case: Various ?
Run ID: 11374.454G32.16S2855.1615M167.O4884.L2264.21J295 ?
Data Research: 1927/1950 Elgin Serial List ?
Database Version: v52.978 ?
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Registry Population: Scoped for This Run Only: 34 (1.70%) ?
$ Estimated Value (12 Month Change): +4.72% Analyzing 907 Sales ?