Robert,
Ford of Canada did not use consecutive V8 engine numbering regardless of model year like Ford U.S. (18-1 on up), but rather used groups of up to 5,000 consecutive numbers with each group further identified by the addition of another capital letter to the prefix. That added letter was randomly selected and not in alphabetical order in any given model year. In the case of the P that you asked about, nine other lettered groups were used during the 1934 model year.