You said OWL Eye? The trade mark for the Iver Johnson hand guns was an owl head. The Iver Johnson top break revolvers look very similar to the S&W's. Both companies made them in .32 S&W and .38S&W and they were either Nickel or blued. What Hammerdown is showing you is a double action lemon squeezer. The back bar on the grip is a safety that needed to be pushed in with the grip of the revolver.
Is there any writing on the top of the rib on the barrel? Dates will help to narrow it down in the Blue book of gun values. There are a number of models and variations.
The other questions are does it have a trigger guard? Is it single action only? Some are very collectible. I count 25 variations of both 32 and 38. The one pictured at first glance had 5 models and one with a specialty "U.S. Martially.
Also give the serial number with the last two or three numbers X ed out. But add the X instead of the number so I will know if it's 24, 2400 or 24,000