Swiss hunting cased watch with an equestrian theme Circa 1915

Gold and enamel pocket watch by Borel Fils & Cie. 
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A Swiss gold and enamel hunting cased keyless lever watch with an equestrian theme, circa 1915. This watch features a frosted gilded movement with a lever escapement, 16 jewels, and a bimetallic compensation balance, numbered 399169. The champagne dial is signed Ernst Borel & Cie. and showcases black Arabic numerals, a minute ring interspersed with red 24 hour markers, and blued steel cathedral hands. It has a sunken centre and a subsidiary seconds dial. The case is crafted from 14 carat gold, with the front cover adorned with two polychrome enamel painted horses set against a blue guilloché enamel background. The border features opaque white enamel banding and panels of matching enamel. The reverse side is similarly decorated with a polychrome enamel painting of a horseshoe. The gold polished cuvette is engraved with movement details and is signed and numbered as Borel Fils & Cie., Neuchâtel, No. 416780, along with the engraving H. Shmulevitch, Elizavetgrad in Cyrillic. The watch is suspended from a 14 carat gold chain clip.
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Diameter: 49 mm
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Signed: Ernst Borel & Cie. Neuchâtel
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The movement is running smoothly, and the surfaces and screw heads are generally in good condition. There is a scuff on the dial between 8 and 9 o’clock, along with a few other scuffs, particularly near the edges. The subsidiary seconds track is slightly off centre on the dial. The enamel panels of the case have a few minor scratches. The back (horseshoe side) has some matte patches, making it difficult to determine if this is residue or surface wear. The borders on both sides have small chips, which are more noticeable on the back than on the front. The cover is stiff to open when the button is pressed.
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Borel & Fils was established in the mid 19th century and officially listed in Neuchatel in 1900. The company supplied numerous watches to notable clients in Russia. According to the inscription on this particular watch, it was made for a client from Lithuania, which was part of the Russian Empire until the 20th century.