If the "Boston" location instead of "Waltham" were found only on the lower grades as well, and the dials on these were unmarked, it would be even more difficult to associate these with Waltham. Now, if we take the same approach to the "Boston" question, I think that this could have been a further effort to disassociate their name. (A Home Watch Company watch, for example, with an unmarked dial, would probably be difficult for some consumers to recognize as a "Waltham," while an Appleton Tracy with a marked dial would not. It was suggested that Waltham did that in order to purposely disassociate their name from their lower quality line of watches. Some very good points were made regarding this subject, and it was pointed out that flat unmarked dials were most frequently found on the lower grade Walthams, (specifically on the Wm. Some time back, I posed a question here regarding early Waltham unmarked dials. This is only a guess, and I may be completely off base, but here is what I think:
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