I would just guess that the light is too dim from an enlarger to register accurately on a meter. I see what you do in terms of making paper strips, but I cannot really verify the ISO of an on-easel exposure of paper. I can only make actual measurements in-camera. There, I use the camera meter (RZ67) and a hand held Sekonic meter.
My exposure on-easel is about 12" at f16 - f22 for an 8x10 from a 4x5 negative. This is using the same papers that I exposed in-camera at ISO 25 to yield the picture of the MacBeth checker I posted. The in-camera exposure for both papers (mine and the Ilford paper) were 1/50" at f8, so reciprocity may figure into this. The very short exposure and relatively high intensity light changes the response of paper emulsions.
Another emulsion, not posted, was 1 stop slower and was properly exposed at 1/50" at f5.6. On-easel, it also required an additional one-stop increase in exposure. So, the results are rather consistant. They give me a general calibration of both my emulsions, and my enlarger.
PE