Mark,
Hello and welcome to the world of Parkers!
According to the Serialization Book, you have everything correct except that it is a grade 2, not grade 1 and it should be a pistol grip stock.
I've looked in the "Parker Story" (Vol 2 page 492) and your Great Grandfather is listed as an "Inspector" as found in the 1893 Meriden City Directory. The book does not describe what an inspector's job was but the book does mention an "Inspectors Office" so it's safe to assume that he would have been responsible for inspecting the guns prior to shipment. The book also states that inspectors were generally of English or German descent.
I would suggest you join the Association and order a Research Letter. There are surviving factory records for your gun.
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