You will find some early military holsters with this orange thread. The thread was soaked in Mercurochrome (merbromin), an antiseptic, which was intended to prevent mold and bacterial deterioration and prolong the life of the stitching in less than favorable conditions. Evidently it worked pretty well. (I hope Jerry Burney can back me up on this.) At any rate, I think your holster is totally original, properly stitched and a nice find. Congratulations.
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If it's made after 1918...it's a reproduction
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