I know that I would have a VERY hard time getting 38sts/4" using a size 1 needle. I am a tight knitter and with a fingering weight sock yarn I get 32sts/4" with a size 0 needle. To get 38 I'd have to go smaller than a size 0....yikes!!
The best thing to do is try with the yarn that you have and a size 0 needle, and if you can't get the right gauge with that size you might have to look for a different pattern with a gauge that you can get.
Edited to add: Just re-read your post and mine, and I guess I'm assuming that your sock is 1" too big which is why I suggested a needle size smaller. If your sock is 1" too small, you'd need to try a larger needle size.