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Look was a general interest magazine that lasted from 1937 to 1971. In 1956, the bi-weekly publication named its "All-National League Team" and presumably handed watches such as this Lord Elgin to its honorees. It is in beautiful shape though it requires a bit of tuning to keep accurate time. The leather band is a replacement but the timepiece grades NRMT.
Other past auction items that may be of interest to you.
Fall 2013 Catalog Auction