54918 is listed in Meggers and Ehrhardt as a model 1 which is (of course) a key wind, key set. It is listed as either open-faced (yours), and hunter (mine). I think I see some alien case screw marks on your case. Likely re-cased. It is listed as a Miller grade, 15-jewels, and produced some time between Feb. and Apr., 1879. I have never seen a model 1 in an open faced case, but it would be a simple conversion That's why I asked. Yours has the correct dial for a model 1 key winder originally made in an open-faced case. Nice watch.
Yes, I'm in Calgary. As of July 17, month to date, we had received 145 mms of rain, which is more than double the average rainfall for the entire month of July! That's 5.7 inches by the way. I think we can count on one hand the number of days his month when we haven't had rain.