There were O-scale big steamers even in the 30's - and most of these were 3RO at first - that it, outside third rail format. Scale Craft; Mi-Loco. Lobaugh offered them, also. Challengers, among others. You see these types of locos on eBay every so often, both the outside 3rd rail and the later 2RO format. US made, of course, if that's of interest to you.
But Lionel? No - their Pre/Post War true O-scale offerings were the MILW Hiawatha 4-4-2, the PRR B-6 0-6-0 and the NYC 700E Hudson and its descendants.
To my knowledge, Lionel's diesels (all Postwar) were at least nominally 1:48 models, except the Alco FA2's.
