The Colt Model 1903 Pocket Hammer was a short-recoil, semi-automatic pistol, designed by famous American arms designer John Browning. It was a compact version of the Colt Model 1902 Military and Model 1902 Sporting pistols. Its design is in no way related to the Colt Model 1903 Pocket Hammerless or the FN Model 1903 pistol.
Background
This pistol is visually similar to the later Colt 1911. Major differences are the lack of any safety as well as the lack of a slide lock. The magazine release is from the bottom of the grip rather than a button on the side.
It was chambered for the .38 ACP, which is stamped on the slide as "Calibre 38 rimless smokeless". The .38 ACP was a slightly less powerful cartridge than the 9x19mm Parabellum, and it is now considered obsolete as there are no new firearms being chambered in .38 ACP. While using a locked breech, the pistol's overall design was not very strong, and was superseded by an M1911-pattern pistol chambered in .38 Super.[1]