Really Vintage Military Diver

We found this photo of an antique cigarette card from the 1920's. I imagine that this is a fairly fanciful image, and I doubt that this diver needed a watch! (Although it looks like he might be wearing a small one on his left wrist!)

It is interesting to remember that until the 1950's, diving watches mostly used horsehide leather straps (for example, WWII Panerai watches). I am pretty sure they were Shell Cordovan, like our NATO straps. No other leather is even close to being as waterproof.