L & W was the casemaker: Lisnow & Weiss, based in NY. The serial number corresponds with 1942. The OXG is the import code, which jives with the movement being imported to the US to be installed in an American made case.
Thanks, so did Omegas this old have the Omega symbol on the crown? I assume this originally came with a leather strap. What kind of buckle?
I don't think the Ω logo was put on the crown until the mid 40's but I could be wrong. Most buckles back then didn't have logos either, just the brand name on the bottom.