These are basically a decontented Conn. It morphed into the 14M Director in 1955 when production stopped at P-A. I would put that serial number in the early 50s. I would say to have the octave key fixed and any obvious problems attended to. Then play it and you can get a feel for what it is. Then if needed, have the whole horn repadded if the pads seem to be mostly bad. I could play on one of these as my main alto if needed. Great bargain horns and free is even better than wholesale. Nice find.