You forgot about the L1 suffix on the line below the number.
I believe that it is the 25th rifle made in the L1 [or i] production run.
According to Jon Speed, the 2nd Brazil
Mauser M1908 contract of 200,000 Long rifles started in 1912, with the last rifles delivered in early 1914, [Jon Speed]. Production was split between DWM [Berlin], and
Mauser-Werke [Oberndorf], with each company making 100,000 rifles, in following serial # blocks:
- Berlin: Aa, Bb, Cc, Dd, Ee, Ff, Gg, Hh, Ii (or Ji), Kk
- Oberndorf: Ll, Mm, Nn, Oo, Pp, Qq, Rr, Ss, Tt, Uu
Also, according to Speed, apparently some of the rifles made in Oberndorf were stamped DWM [after all DWM, the successor to Ludwig Loewe, was actually the parent company of Mauser]. This was approved by Mauser, although after the DWM stamping, it will usually say Oberndorff. I cannot make out if this is the case from the photo, but based on the serial number tables showing that Li [or 1] was manufactured in Oberndorf vice Berlin, I would think that this would be the case.