To me it makes no sense at all. Why would E.Pack use the 120 number, when Pack produced maker marked daggers at that time? Even if E.Pack switched into 120 code in 1934, wouldn't the factory use the same subcontractors for grips, crossguards and scabbards? The 120/34 daggers are not similar to ealy E.P.& S. daggers, are they?
If you need some info about typical E.P.& S. characteristics, just see here:
http://daggers.infopop.cc/eve/...0093573/m/2420099065