Dr. Tones,
Excellent video, however, railroad watches are higher quality than this watch and never in a lidded case, they must be open face.
I have repaired two similar watches that were found after being lost for more than a hundred years, but they were not in as badly rusted condition as yours. However the case can easily be repaired and another movement from that period can be put in the case.
Congratulations. Great find.
Travis, retired watch maker & jeweler