An 18K yellow gold open-face pocket watch by Shreve & Co., San Francisco’s foremost luxury jeweler of the era, housed in a solid gold case with engraved presentation from the Pelton Water Wheel Company. The white enamel dial is marked “SHREVE & CO” with bold Arabic numerals, sunk seconds dial, and blued-steel hands. The high-grade movement features 21 jewels, is marked “Shreve & Co., San Francisco,” and bears serial number 16925. Inner case stamped “SHREVE & CO” and “18K,” with serial number 136979. The caseback is elegantly engraved:“Presented to G. H. Bailey by the Pelton Water Wheel Co. In Recognition of Faithful Service / San Francisco / October 1st 1904.” Background: Founded in San Francisco in 1888, the Pelton Water Wheel Company revolutionized hydroelectric power through the invention of the Pelton turbine, becoming a leader in industrial engineering across the American West. Presentation watches of this caliber were commonly awarded to long-serving employees or trusted managers in recognition of their contributions. Diameter: 43mm. Weight: 91.8 grams Provenance: Al and Carol Cali Collection Pickup & Shipping: Free Sacramento pickup. Shipping via FedEx within the continental U.S. available for $65 plus 1.5% insurance. Combined lot shipping available. Watch is running. Very good condition with minor wear consistent with age.