Doug I have to agree. One thing its not leather. I minored in Russian studies and the condition in Russia during the date of this pistol is 1924 was a country ripe in revolution. The Czar Nicholas was execute along with the entire royal family. The Cheka the soviet police was ruthless abolishing all private ownership. Great shortages of everything. I'm sure Leather was rare and the citizens were hungry. Other alternatives were used had to be used. The movie Dr Drzhivago says it all!!!. It feels like some kind of rubber replacement which would make more sence.
http://en.wikipedia.org/wiki/Nicholas_II_of_Russia The secret police
http://en.wikipedia.org/wiki/Cheka