Thanks to Barney, Mike and John for helping with the ladies watch.
Seems I keep stumbling over watches here and there. Latest was from a antique dealer visited yesterday who had a stuffed jewelry case and under a bunch of jewellery boxes I saw the Gruen blue of a watch box peaking out. Found it was indeed a Gruen box and inside was this 19 jewel. I probably paid a bit much as there is not much gold fill left on the case but thought it would be a good practise watch. Movement seemed ok too. Paid $45 with the box. That's in CANADIAN dollars; what's that, about $5 USD?
The case back says 535 SS - 161. An obvious sweep seconds movement. Inside I can't see any markings other than the 19 jewels and what appears to be a pallet fork symbol and number 1161 I believe. There is what appears to be III marked on the balance cock.
Tried Mike's online ID with the style number but it doesn't seem to make sense. Put in 161 and it says 1934 (with 703 caliber) obviously not a 30s watch. Then typed in 535 and it said 420SS caliber (pretty sure this is a 17 jewel not 19). What am I missing here? My cursory internet search came up short too.