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Kay M-2-S: looking for info

Hi guys,

looking for info on a bass I've had for a couple years. The sticker inside indicates it's a Kay M-2-S, serial number 5931.

The only reference I can even find to that model existing is on kaybass.com, and it's just a line where the serial number and a question mark - no info about what the M-2-S might be. According to the serial number, it would've been manufactured sometime around the end of 1939.

According to kaybass.com, again, there were models of M2 like the M2 army, M2 navy etc., which it sounds like were made for USO/military bands. No mention of the M2S though.

Other than the one place, I just can't find any reference to these things even existing. Any thoughts where else I might look for info? I'm considering selling it, but trying hard to figure out what it's worth first, and whether it's as rare as it sounds like it might be.

Images:
 
I've been researching Kay models using the photo archive at kaybass.com, and I have a theory on this bass, which is one of two in the database and the only one on which we have photos. (Your photos are better than ours, and I'd appreciate it if you could email them to me or Roger for future research purposes.)

From time to time Kay experimented with different finishes for its spruce top veneers in the M series, and I suspect that the unusual color of the top is the source of the S designation here, as your photos help clarify.

The two known M-2S survivors are separated by only 18 numbers, so they were made at very close to the same time.
 
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