David,
Judging from the timing of our two posts, we're both up too late for our own good. You're right, I relied on the words and not the photo. Not only is it a late '32 pump, it is a very late version with the ventilation holes which the first version of this pump did not have. You have my apologies.
Robert,
Strictly speaking, that cadmium-plated band is not a '32 part, but rather was released in the spring of '33 and carries a "40" prefix part number. With the advent of cold weather in the northern climes, the holes were added to the pump to prevent freezing of condensation which rendered the pumps inoperable. Come spring, those holes were a shortcut to dust entering the crankcase, hence the clip to seal them off. One wonders how many car owners remembered to remove the clip during the winter months of the years ahead and to replace it each spring.
For what it is worth, "tall" pumps without the ventilation holes are extremely rare as the dealers were sent a special service letter in late '32 with instructions to add the holes to the pumps without holes.