The stock is not altered where the sight adjusts up and down. It is very close, but there is enough room for a business card+ to slip between.
The serial number is high 17,***
The markings on the barrel include (from rear to front) an oval containing REP, a couple hieroglyphics a rough X W and another hieroglyphic.
Considering the range of manufacture and the chart shared by Tom I am thinking December 1928. Grandpa was born in April of 1900, and married Grandma in June 1932, so this would have been during his time of hunting with his brothers.
Thanks for the help and information!