The first version had no writing indicating the number of jewels/adjustments. Just the serial number, and the V&C logo.
The second was fully marked, but the reference number had no letter behind it.
Also, at this time, import codes were being introduced to ensure compliance with the laws of the country to which the watch was being imported. This was necessitated by the US instituting tariffs on swiss watches, based upon the number of jewels and adjustments. IIRC, that was 1938.