Paul Weil's watch

During our lunch at the country club, Judy W showed me a gold watch belonging to Paul Weil.  She is the widow of Paul's great grandson.

There was a round picture in the watch; Judy insisted we take it.  Our initial reaction was that it should stay with the watch.  But, she pointed out that whoever ended up with the watch, by gifting or sale, would not know who the person was.

My guess was that it was Paul's wife Johanna (sister of Regina and Mina and maybe more).  I don't have any pictures of either Paul or Johanna.

So it's a guess.

I'm including the best version of the small picture I could come up with as well as the inscription on the watch clearly given him in appreciation of his service as president in 1887.  He was President from 1884-1891.