I have finally been able to answer the riddle of the so-called 1E5 watermark I thought I had found on the 25c: it is the 1L6 also found for the 2 pesos! Here is a comparison of this watermark with the 1E2 and 1E4 watermarks. I also show the 1E2 transverse, a rare stamp. Because of how the watermark cylinders were constructed, the 1E2 transverse, or 1E2t, is really a separate watermark.
1E2
1E2t (rare)
1E4
1L6