Beautiful example of the Winchester Model 1894 - Saddle Ring Carbine chambered in 32/40.  Appears to be all original.  Does not appear to have been refinished and has natural patina.  Winchester letter will be included.  It shows this was made on October 3, 1901 and shipped from the warehouse on October 24th 1901.  The action is smooth and functions as intended.  I will send additional photos upon request.