Manufactured in 1926. The carbine has a blue finish with oiled walnut stock and forearm. Full length magazine, saddle ring on the left side of the receiver and steel carbine buttplate. The barrel is fitted with a blade front sight and an adjustable folding leaf rear sight. The top of the barrel and receiver are stamped with the Winchester "W/P" proofmark. The left side of the barrel has the two-line marking: "-MODEL 92 - WINCHESTER - 25-20W.C.F. - / -TRADE MARK-" below the rear sight. The opposite side of the barrel is roll-stamped with the two-line legend: "MADE IN U.S.A.WINCHESTER REPEATING ARMS CO / -NEW HAVEN. CONN. -". The upper receiver tang is roll-stamped: "WINCHESTER / TRADE MARK/ MADE IN U.S.A." in three lines.

Very good with 90% of the original finish remaining on the barrel and magazine while the receiver retains 20% of the original blue with the remainder a brown patina. The left side of the receiver shows some minor pitting. The left side barrel bade screw is absent. The wood has been freshened with a coat of varnish and remains very good with some scattered dents and dings.Clear markings. The action is excellent.