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Even German military 98s were 7.9/.318/J-bore until 1905 when the larger spitzer bullet came in. Sporting rifles in the old caliber hung on for a long time. Partly conservatism among hunters and gunsmiths and I think partly due to post WW I Versailles Treaty restrictions on military calibers. Your rifle in the tight bore version is nothing out of the ordinary for the period of the 1920s and 1930s.
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