The 52a and 52b numbers are actually the catalogue numbers for the SCALA label. It would appear that the Scala record company was the source for the Arrow masters at this time. Scala records only show their own catalogue numbers in the record and suppress the original Beka master numbers.
The Beka master numbers should be 41102 & 41103, but to be absolutely 100% certain, one would have to have both the Arrow and the Beka original to compare them!
It certainly does look like it could be a paste-over, but the Arrow record label did change to yellow later (instead of red). A-28 would originally have been on a red label. Although, if it is a red labelled Arrow underneath, I don't know why they would go to the trouble of pasting over as new yellow label!
.......Mike
Thank you for the excellent extra research you did. See the tear in the yellow paper label by the center hole in the A-side scan? That looks like this is a paste-over, with another label underneath. Arrow records were also issued with red labels. I wonder what's on the other one...
This Beka catalogue (unfortunately not dated) lists Beka 521 on page 5.
M. G. Thomas lists the following matrix numbers for Beka 521:
A mx: 41102; B: mx 41103.
Recordings from Beka's 40000 block (British) were made between 1907 and 1919 (source).
The Arrow label itself lists different matrix numbers, though: 52a and 52b. This suggests to me (and I could, of course, be mistaken) that this record could be a reissue of a different Beka matrix block, 1-395, which so far is still mostly unknown. The other records nearby, however, were all recorded by an Imperial German military band in Berlin in 1904 (specifically, the Kapelle des Kaiser Franz Garde-Grenadier-Regiments Nr. 2, directed by Adolf Becker). Click on the blue 1 in this table: http://www.phonomuseum.at/discography-%e2%80%93-edited-by-christian-zwarg/
What scant information on this label there is on the web indicates that it existed between 1913 and 1916 as a part of the Carl Lindstrom group of labels. This one seemed to be in the business of reissuing Beka masters, often at a much later date. Their catalogue numbers run between A1 and approximately A224.
This record was previously issued on Beka 521, and the actual artists were the Empire Military Band (source). Unfortunately, there is no Beka 521 on the site yet, so it is near impossible to say for sure when either it, or this Arrow disc were issued. Being so close to the beginning of the series, one could likely accurately assume that it was 1913.