Note that the sear bar is pre-1916. That means the sear bar was made by DWM.
Compare the sear bar on my 1920 DWM Swiss:
If this was commercial production, why the military configuration numbers on the sideplate and the takedown latch?
If the Morphy pistol were a true Mauser it would have the "Mauser bump" on the rear of the frame. I don't see that feature.
I would like to see the stamps inside the front receiver well.
Smells like fish to me, but I am no expert. Perhaps it's made with leftover DWM parts that Mauser acquired when it acquired DWM. Some of you more knowledgeable guys can educate me.
Curl