Hi and welcome to the board,
You don't state the size but I assume it is 2 inches or less, in which case it is a Perthshire Paperweights' design PP32. It is indeed an L cane in the centre, it is one of a couple of designs in which Perthshire included a letter to indicate the year of manufacture. The PP32 started in 1978 with J and ended in 1986 with R, making yours a 1980 weight.
Regards
Nick