I’ve tried to research this ring, too. It should still be identifiable, whether it is a clue to the identity of this person or not. All I’ve come up with is crumbs to muddy up the water, but hope it helps lead to some more definite clues. The sketch of the letters on the ring was done by “Balfor Jewelers.” I didn’t find a BJ on a quick search, but Balfour Inc is the largest, oldest maker of class and military rings.
http://www.balfour.com/about/history/
So Balfour didn’t make high school rings in 1917. Were they the only makers of class rings then? I don’t know. Balfour rings are usually clearly marked with their Balfour insignia on the inside of the shank. At least, all the ones I’ve seen dating back to the 40s or so. So IF this is indeed the same Balfour that studied the initials, I’m inclined to think it is not a class ring. They are the experts. ( Herff Jones is the other major US class ring maker and they were not founded until 1920.) Also, if the S is for School, I don’t think it would be the dominate center letter.
But it could be a military ring. 1917 was the year America joined World War I.
http://militaryhistory.about.com/od/worldwarioverview/a/wwi1917.htm Could this be a military mother’s ring? I wonder if the center vertical line is not part of an crude attempt to put a cross in the middle of 3 initials. With the possibility of a cross overlaying the initials, it could just be HSN with a fancy cursive hook on the H. And if S is the surname, then it would be HNS.
The inside initials: ILN - Google search for old English cursive font (no quotes) I did not see a font exactly like this one, but I did see that there is very little difference between an I and a J in almost all the search results. It looks like the Balfor Jeweler sketch includes the first inside initial, possibly due to the similarity of those 2 letters. ( And I hope it’s not just an I Love Nxxxx. engraving.)