Hi Daneille, your necklace sounds gorgeous! Nothing compares to antique jewelry! Not only is antique jewelry loaded with sentimentality, especially if its been handed down like your necklace, but antique jewelry leaves no carbon footprints - it is eco-friendly jewelry and reason enough to invest in antique jewelry.
We are going to need a photo of this mark. Could you please upload a photo of this mark in a follow-up submission.
Interestingly though, i did come across a SILVERSMITH in Hartford, CT, United States, using a sponsor's mark that fitted your description. M with an arrow through it. Arrows come in all different shapes and styles and the Melrose arrow only has one feather at the end not along the length of the arrow.
THE MELROSE SILVER Co. (Hartford, CT, USA) - ca 1900
I'm just pondering if it is Italian.... In 1906 the metal acts was passed in the US requiring jewelers to declare gold designation on their work. CT is the usual gold designation for UK while in the US it is K.