Correct answers are on the other board where you posted pictures.
http://forums.1911forum.com/showthread.php?t=339550
The gun was "sanitized" by removal of the US Property markings and serial number after it was misappropriated from government stocks or pilfered from issue.
A made-up serial number was stamped, apparently to get on the Canadian registry from what you say there.
Collector interest is zero, value of the gun is purely as a plinker.