As both the .32 and .38 S&W Safety Hammerless revolvers were produced from 1887 to 1940 the changes in ordnance steel had to change with the times, an assumption, along with the ammo. Case in point, the .38 SH was the fourth model made from 1898 to 1907, well into the smokeless powder era. The fifth model from 1907 into the late 30s. Winchester was building model 1894 rifles out of nickel steel during this timeline. What was S&W doing with steel for these little guns, again, a question for the experts. I assume they manufactured SH revolvers using the same steel as they did for the Triple Lock and the model 1917. A timeline from 1887 to 1940 production of steel would be of interest and from where it was purchased.