The accompanying factory letter lists this rifle with a half octagon barrel in .32 caliber, set trigger, checkered pistol grip stock, half magazine and casehardened receiver when received in the warehouse on January 17, 1887 and shipped the same day. The factory records also lists a March 19, 1914 repair and return date, and it was likely at this time the factory refinished the receiver. A Winchester factory oval proof is stamped on the barrel and receiver. The rifle is fitted with a combination Beach front sight, an elevation adjustable buckhorn rear sight, and folding tang peep sight. The third model receiver features an integral dust cover rail and cover with serrated rear edges. The upper left barrel flat has the two-line Winchester address/patent dates marking and "32 WCF." The cartridge elevator is marked "32 CAL." The forearm and pistol grip stock are select grade walnut and feature "H" style checkering. The stock has an ebony grip insert and is fitted with a crescent buttplate. The left side of the lower tang is marked "1486 X 32." The stock inlet has matching numbers "1486" and ''32". "1486" is repeated on the buttplate.

Very fine, retaining 85% of the factory refinished blue finish with thinning to brown on the balance. Traces of original case colors remain on the hammer and lever. The wood is also very fine with scattered handling marks and a few blemishes in the overall crisp checkering. Mechanically excellent.