Volume One, 1934 The Model Railroader

In 1934, Al kalmbach launched a venture that became an empire. From a diminuative, 12 page, 10 cent introductory issue, The Model Railroader magazine burst forth.
A very small number of the initial issue were printed, one report set the number at 270, the bound volume, reprinted several years later, states that only 107 copies were made.
I happen to be the proud owner of both the first year of the magazine, including the incredibly rare "Volume One, Number One", as well as the later reprinted bound volume.
I wrote the folks at The Model Railroader, who were not only (understandably) skeptical, as to the authenticity, but were a bit on the rude side, as well. They finally dismissed my copy of the first issue as simply one that had been cut out of the later bound volume.
A close, side by side comparison shows this not to be the case. The reprint volume was trimmed down, so the pages are considerably smaller, as shown. Also, the "headers" are in color printing, on the original later issues (from May to December), while the reprint, referred to as a facsimile, "headers" are all black and white.
This, plus the fact that my magazines were contained in an envelope from a pre WWII era US Navy publication, would confirm it as genuine. I'd welcome opinions on my conclusions.
Anyone else have this volume?