It would be an interesting project to tackle but I am afraid that it would be expensive if you had to buy all of the necessary parts. The possibility of finding the correct M1934 parts is probably impossible. The best that one could hope for is to buy M1917 parts to complete the rifle. You would then end up with a hybrid that had little or no collector value and would only be a curiosity. I suppose that you could make a sporter out of it, but for the cost of finishing the project ,one could buy a new, more accurate and better product cheaper like a M70, Savage, or M700. I have most of the parts necessary to complete the job (including a new HS 4 grove M1917 barrel, a complete Eddystone stock with all the hardware, the correct cocking piece, and the majority of the small parts and a Lyman 48 sight required to finish the rifle) but it would still be a hybrid and it would still cost money to have the barrel installed and headspaced. It would still be an expensive project resulting in a hybrid with little or no value.
FWIW