Hi, once again Mike is on the mark. I do agrre that 3k is a bit high for a BLNE. Of course condition is always a major factor and to some extent the maker.
Who is the maker BTW?
1 1/8oz is the standard shot charge for 12b 2 1/2" guns. During the First World War factory loaded shells were loaded with only 1 1/16oz of shot, to save material for the war. Markers just continued to use this charge after the war. This is why most 12b 2 1/2" shells today are only loaded with 1 1/16oz of shot.
I think you may have made a typo, the 1/31 should be 13/1. If so this means that the gun is a 13b and was so stamped under the 1925 Rules of Proof. It's still a 12b, just means the bore is tighter.
The 12C in the diamond indicates 12b and chamber size as Mike says, but it could also mean the gun could have a chamber length of 2 3/4" (which was used for heavy waterfowel guns). A general guide is 2 1/2" chambers are proofed for 1 1/8oz and 1 1/4oz for 2 3/4".
Anyway, this is a very good discussion. To bad we can't see a pic of the bbl flats, that would tell the whole story.
Here's a link to the Birmingham Proof House, it may help you out:
http://www.gunproof.com/Good Luck and all the best!
Greg