I think you should match that thread up with a standard fish tail gauge.
I've seen "similar" on threadded assemblies where there is a "normal" thread (usually a large one), where the "top" of the threads are missing, like a very, very heavily truncated thread. Forcing screws, or connections on parts (not fasteners) were meant to be repeatedly assembled and disassembled. The "missing" top of the thread makes them very robust as far as not getting damaged or sticky with frequent use and abuse.
I've never heard of it (and never looked for it), but it would not surprise me even a little bit if there was a standard for such a thread as Illinoyance mentioned.
What is the diameter of the part "above" the threaded area?
If you put a fish tail gauge (or a threading tool) into the thread, if you were to approximate just how much of the top of a standard thread might be missing, does that equate with the 0.050" (or slightly less) that's missing from a standard 1 inch thread?
Do you have a way to quantify the "light gap" in the thread gauge? I find that on stuff that old, it's NOT uncommon to find some "slight" thread pitch discrepancies. "Hard" steel wasn't so much a thing, soft threads have a lot more give, so the precision we're used to today just wasn't necessary to get "full strength" out of screw threads.
I'm clearly speculating a bit based on what I've seen (not spec's), but I'm very curious now, as I've seen (I believe I've seen anyhow) similar threads, but never gave it another thought, since that's how they came.