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In his book on the marine chronometer, Marvin Whitney reports that Elgin used their grade 367, 18-size, 3/4 plate, lever set, 21-jewel Father Time movement in this model. Some had a micrometer regulator on them, while others were free sprung. The Father Time movement was a railroad standard movement. Your chronometer is often called a “torpedo boat” piece. It has also been called “mine sweeper” model. I have read that such chronometers were also used by coast guard, merchant marine, and navy ships which were always escorted by man-o-war ships. Ships like oilers, hospital ships, freighters, and such like.
Interesting, further marking apparently on the movement are.
The movement is signed BW Raymond, Elgin ILL also this, Safety Pinion and Adjusted.
Also
high grade American keyless wind, 15 jewel, gilt full plate movement with a lever escapement and screw micrometer.