That's definitely not a patent number from 1934, too few digits. It is, however, a prior registration number for Resistol's "Self-Conforming" trademark, rather than a patent.
Just looking at my old Resistol, there is nothing particularly special about their sweat, other than its softness. Any soft felt hat with a soft sweat will "self conform" to your head, but then, any soft hat will do that anyway, given enough time. Just a clever marketing ploy that has stood the test of time.
That's an interesting patent you found. Old patents are a lot of fun, and I've found many cool hat patents in my countless hours of searching. I've thought about compiling them in a book or a CD.