7.65 x 53 Mauser Tracer?

This 7.65 x 53 Mauser round is headstamped “K35 7.65”. It has a magnetic CN bullet with a magenta tip. Purple PA, flat brass primer. Someone has written on the side of the case either “2NG” or “ZNG” “7.65 x 53” “1902”

What do I have?

I cannot help you with the writing on the side of the case, but you have a Kynoch made tracer for the South American market.

Attached is a picture of variuos loads, all from Kynoch and dated in the early 1930s.

L. to R.
Flame Tracer
Smoke Tracer (Buckingham type phosphorus incendiary)
Armour piercing