From "Western Maryland Cabooses" by Dwight Jones:
The scheme was revised in the early 50's to incorporate a larger diameter emblem. The original herald of 34 1/2" was replaced with the same style herald that measured 42". The revision became effective on Feb. 25, 1952 but was short-lived as the Speed Lettering scheme was adopted just 17 months later. At least 11 cars were repainted with the larger emblem (out of 106 cars).
So yes, both are correct.
Bruce