The carbon steel is 1095C, heat-treated to around Rockwell 58C (57-59C).
Schrade stainless was originally 440C, until in the late 1970s they trademarked Schrade Plus for 440A which had a special heat-treat, enabling the steel to come out of the heat-treat with two points more carbon than it went in. (i.e., originally, about .6 carbon, after heat-treat, .8 and a fine grain structure.)
A few years before they went belly-up, Schrade changed Schrade Plus from 440A to 420 High Carbon, which they claimed gave as good or better results. In doing so, they were following the lead of Buck and Camillus, both of which had gone to 420HC because it was much cheaper than 440A (i.e., at one time, 72 cents a pound for 420HC, compared to about $2 a pound for 440A at the time. When you make hundreds of thousands of blade a year, these savings can add up.)