Manufactured in 1894, the first year of production. The special order nickel steel barrel is roll stamped with the two-line legend "- MANUFACTURED BY THE-/-WINCHESTER REPEATING ARMS CO. NEW HAVEN. CONN. U.S.A." on the left side. The caliber designation "38-55" is also stamped on the left side at the breech. The barrel is also fitted with the special order half-length “button” magazine tube. The top of the barrel and receiver are marked with the Winchester proof marks, which did not appear until the 240,000 serial number range. This writer believes the markings are honest, and in lieu of a factory letter, imply the rifle returned to the factory for the application of the special order barrel and magazine tube around 1910-1915. The receiver is a "First Model" featuring an extra screw on either side which has become known as a "10 o'clock screw" by collectors due to its position in relation to the loading gate. These First Model receivers are seen into as high as the 6000 serial number range, as the factory used up receivers in no particular order. The three-line model/patent markings are on the upper tang, and the very early three-digit serial number "347" is marked on the bottom of the receiver. The tang-mounted rear peep sight has been added after-market, and the front mounting screw obstructs the first “-“ of the three-line model/patent marking. It is fitted with a smooth forearm and straight grip stock with a crescent buttplate.

Fine, retaining 60% factory refinished blue finish with few scattered patches of light pitting and some surface marks that make for honest wear. The wood is also fine, having light surface marks commensurable with the metal components. Mechanically excellent.