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Fan Of Pan Am
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Wow, I am way late to this thread, however, I have information to add. Although Presto shows a bankruptcy filing in 1931, The Elkhart Band Instrument Company, Buescher subsidiary, continued to supply Horace stencil saxes well into the 1930's, possibly as late as 1934/35.

Additionally, since the author of this thread does not provide pictures or a serial number detail, it is possible that this sax was an Elkhart BIC stencil and not Martin. The 50,000 series Elkharts are often mistaken for Martins, because of the beveled, soldered tone-holes. I have several of these Horace stencils in my Elkhart BIC registry. These are discussed in the Elkhart Band Instrument Company Registry thread started by La Porte.
 
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