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It has some of the earmarks of a "swiss fake", but I'm not sure. The dial doesn't seem to be pretending to be an american-sounding name, but "one adjustment" is odd thing to engrave on a movment if you weren't trying to fool someone who was looking for an "adjusted" watch. The balance looks non-compensating, and I can't quite tell if it's a pin-lever or not. The dial has the appearance of a high-quality double-sunk Montgomery dial, but I suspect that the sunk parts are just ground down on a single plate. The center wheel bridge looks like it used to have some pattern on it (similar to American style damasking), but it came off somehow.

Very curious piece.
 
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