The best thing to do would be to take it to a jeweller & have them appraise it. You need to know what the metal is, get the hallmark checked & also the stone - it would be impossible to tell just from looking what it actually is, let alone if it’s original to the ring.
It’s very pretty - good luck with your information search!
The ring needs to be checked by a jeweller. That’s the best place to start. The gem could certainly be a Ruby but it might also be a synthetic or even paste (glass). The gem could be original to the setting or a replacement.
Synthetics and even glass were commonly used in the early 1900s and earlier.