Finally, here is a table from a Parker brochure at the time your V16 was made and showing all gauge loads. For 16ga the not recommended load of 1oz with 3 drams ( nitro powder by then, nitro meaning smokeless) was because of the 3 dram, not the 1oz. One ounce 16 loads were commonly used by Parker with 2 1/2 and 2 3/4drams. You can cross determine pressure by the velocity, shown in the table at 100 feet, not muzzle velocity as now used. The velocity at 100ft is close to or the same as the 1150 to 1200 FPS at muzzle.
These loads are fully consistent with commercially available loads today so unless there is something wrong with your gun, you should be able to shoot today what your gun was designed to shoot when it was made. I’m not going to presume the soundness or unsoundness of a gun in barrel or stock until examined.
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