Help identifying Spanish revolver

After the Great War ended ( The war to end all wars, WWI ), a large number of Eibar ( Spain ) gun makers, those who had been making .32 caliber Ruby pistols for the French army, suddenly found them self unemployed. What to do, never fear, they started making pistols and revolvers for export, mostly to the US. The pistols were almost all Browning copies, and the revolvers were copies of the Colt and S&W, If you notice the Monogram could be mistaken for a S&W logo, not an accident, the markings were designed to fool unwary buyers into thinking they were buying a gin-u-wine S&W. These guns sold very cheaply in the 1920's and 1930's, often for less than 1/5Th of the cost of a real Colt or S&W and many were sold by mail order by large retailers such as Sears at a even higher discount. While some of these guns were fairly well made, most were not. The Eibar guns ( now all are grouped under Rubys ) have a very poor reputation for reliability and safety. Enough said on that matter. I have never been very good at deciphering those intertwined Initials. Perhaps someone can interpret the letters, if so we may be able to identify the maker, Most, not all of the different makers are known.