I checked my 1948 Lawrence catalog for your Model 25. It was a very common holster in that era, retailing for $4.10 at the time.
The "Steerhide" designation was stamped on holsters made starting arouind1930 and into the 1940's, so yours was probably made around WW2. The "22-32" stands for the gun it was made for, namely the Smith and Wesson 22.-32 Kit Gun with a "4" inch barrel. Thus the "4" stamped below the Model 22-32 stamping.
The 22-32 Kit Guns were typically Smith's "I frames", so that would account for the holster being small for you revolver. You didn't say what your revolver is, but it looks like a Model 10 (or the older M&P) in "K frame" with a 4" barrel. The K frame is larger than the "I frames".