No Tom, it was not proofed with an 1 1/8 load. The standard service load, not proof, was 1 1/8 oz 3 dre, and the proof load was about 13,000 psi in that era, or another 4,000 to 5,000 psi greater. Service loads in any gun are generally calculated to be one third less than proof loads. The few rupture tests that have been done show these heavy Damascus barrels withstanding well over 20,000 psi.
The 1 1/8 oz 3 dre load was the standard Parker 12ga service load for almost all 12's, except very early guns. Following is the Parker load table for your gun as made, and as you can see, it is an even heavier load, up to 4 drams. I would not find that a comfortable load to shoot.
That was as designed and made. Some guns today have thin barrels or loose on face and need to shoot reduced loads. Some of these old guns have had a lifetime of heavy loads from people seeing how much they can blast out the end of the barrels. For target shooting today, light loads are more economical and easier on your shoulder.
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