Table

I believe what you have is a smoking stand. The indent on the top would have held an ashtray. You're correct on the time period, but the wood looks to be mahogany (hard to tell from the photos). At auction it would bring $50-$100.
Not a huge market for these anymore. If you could find a bowl for the indent it would be nice as a plant stand, in my opinion.

This piece is a "Smokers Stand" which was often found beside a "Club Chair" or "Easy Chair", it was of course meant to hold everything a pipe or cigar smoker required , such as tobacco, pipes ashtray etc.. Examples like this one where in the Colonial Revival Style and date from the second quarter of the 20th Century. They were mass produced items, so values tend to be modest for them, under $100.00 currently