Sort of resembles an August Schüler Model 12, but other makers/firearms merchants like F.W. Keßler offered something similar.
At least the lower tube was made by Louis Kelber and the encircled initials H.S. direct compensation and liability to that mechanic. Seems highly probable that the components were sourced from the Zella-Mehlis craftsmen and assembled in Suhl. As Axel has noted many times, the competition between the Suhl & Zella-Mehlis mechanics was fierce to say the least. I don't think the Suhl proof facilities would accept a sporting weapon with a Zella-Mehlis address nor would the Zella-Mehlis proof facility accept a sporting weapon with a Suhl address. But I believe by law that the Suhl facility had to accept submissions from all the Suhl address and the Zella-Mehlis facility had to accept all Zella-Mehlis addresses. And it may have been the friction between the 2 that forced the situation of having 2 proof facilities within such close proximity.
Anyway, there were several H.S. mechanics and until some ledger or supervisor's notebook is found that the specific craftsman will be obscured for a time.
Some possibilities are:
H. Schaller
Heinrich Scharfenberg - possibly active a bit later
H. Schilling - tube maker
Max Heinrich Stoll - tube maker - prime suspect
and I'm sure there were others.
With the low serial number, it for sure wasn't one of the larger Suhl concerns, so it was a firm that began, or was reorganized after WWII. I don't think small concerns were under the same weapons production rules as the larger ones, less Simson & Company.
Kind Regards,
Raimey
rse