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Actually, it was designed for the .22 Long cartridge, but back in the days before high speed .22 ammunition was invented. Using .22 Short standard velocity ammunition is OK. Some prefer to use the weaker .22 CB cartridges. Adolph Hitler supposedly owned a .22 Ladysmith before he took control over Germany. I do not presently own one, but I did for awhile long ago. If I had one in working condition now, I would not shoot it for fear of breaking something unfixable. True or not I can’t say, but the original Ladysmith had a reputation as being a favorite of certain ladies who were in the rental date business. BTW, S&W called its size the M frame, which was quite small compared to the more common and larger K and I revolver frame sizes of the same time period (1902-21).
 
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You have an M frame Ladysmith 3rd model. Here's my 6" target version beside my 10" 29. I shoot the Ladysmiths and my civil war era tip up .22 Smiths sparingly with subsonic .22 BB or CB shorts. Those are basically a primer and bullet with very little if any gunpowder. DO NOT try to shoot anything high velocity! It will blow out the forcing cone and damage your Smith.
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