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calavera - sounds like a late '30s Military & Police model. A picture helps a lot if you can post one (use photobucket to host if you need to). Grips should be 1/2 round at the top, silver medallions inset into the 1/2 rounded area?
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You should get a letter for this one. S&W handgun sales tanked during the Depression and they were able to produce several years' worth of M&Ps using frames they stockpiled during the 20s, but they did not pay attention to the serial numbers on the frames they were using, so the guns were not built in numerical order.
FWIW if you choose to shoot this one, don't feed it any ammo labeled "+P" or "+P+". This is higher-pressure ammo than normal .38 Special. Unlike postwar S&W products, these older guns were not made to withstand the higher pressure, and using +P ammo can blow them up.
