The arched "Comoys" suggest it was made before or near WWII era, so the 42 also makes sense.
On the last PipesMagazine radio show, the director for Hulco Pipes talks about his father getting fraternity or college pipes made each year. That looks more like it would be a school designation than a fraternity. And, I very cool piece! Is there a shape number on it (typically a 3 digit number)