This pretty sterling silver napkin ring is from Watrous Mfg., a vintage maker of sterling silver items. The W and quarter moon hallmark is their mark. Watrous was founded in 1898 and is one of the founding fathers of International Silver Company, still in business today. The style of the engraved design is late Victorian, with a baroque shield in the center bearing a monogram of "ALT" in pretty script. The ring is 1" wide and is 1 1/2" in diameter. It is in excellent original condition and weighs 12.1 grams. It dates around 1900.
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