Now the question... why wasn't it ratified?
I found this, which tells us that...
In Kenny Moore's book: "Bowerman and the Men of Oregon ," Bowerman shared this bit of information from his conversations with Bill Hayward:
After Paris, Spearow, then known to his Cottage Grove flock as the 'pole-vaulting Presbyterian pastor,' was invited on a goodwill tour of Japan. 'He saw people using bamboo poles for the first time,' Hayward would tell Bill (Bowerman), 'tried one himself and broke the world record with 13 feet 10 ½ inches. But it was never accepted because the Amateur Athletic Union hadn't issued him an official travel permit to compete there. They treated him like an outlaw.'"
On the other hand, Martti Jukola said that...
That's a more contemporary source, but Jonni Myyrä did embezzle his home town out of much of its money, so I'm not sure how trustworthy his word is[...] On an additional - 4th - attempt [Spearow] cleared 422, which I've seen erroneously called a world record. I will, however, trust the word of Jonni Myyrä, an eyewitness, who wrote to me that this excellent jump was a 4th attempt. It hasn't been spotted among IAAF's ratified world records either.
Digging a bit, I found the November 21, 1924 edition of the Eugene Register-Guard, which says...
[Spearow] also tried for a world's vault record, but failed by a scant margin.
In all likelihood the source of this information was Ralph Spearow himself, so it seems he didn't consider himself to have broken the WR. (It's curious, though, that the 422 isn't even mentioned here. The November 19 edition of the Register-Guard did mention the 422, calling it "unofficial".)
I would conclude from this that most likely Myyrä was right and the 422 was a 4th attempt (such extra trials were quite common at the time), but can anyone here shed further light on the matter?