Your guns is from 1909. It is a "F" Grade. Royal Steel ( A good thing). Very good old guns that are safe to shoot. If it locks tight, and I suspect it does, don't worry about the lever position. It's a pretty easy fix. I can suggest an expert L.C. Smith gunsmith that can do it right.

I have one (1908) in 16 gauge with Royal Steel barrels that my Dad used and that I have used regularly Since I was a kid 50+years ago.

Ole Cowboy