The Studio shutter has no timed speeds, it operates solely in Bulb mode. The speed will be however fast you can open and release the blades; probably around 1/5th of a second on a well-working Studio #3.

There are two sets of double blades for light tightness. It is possible to be missing one blade from one of these double sets and still function, but the shutter would have to be examined pretty closely to be certain.