Modern barrels are also fluted sometimes. I just Googled the word flute.
Among the listed definitions of fluting is:
Quote:
fluting - A decoration consisting of parallel, normally vertical, flutes (grooves) incised into the surface; The act of making such grooves
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http://www.google.com/dictionary?q=f...ed=0CCAQmwMoAA
Heavy barrels are fluted to make them lighter without sacrificing [much] strength or rigidity, and the resulting additional exterior surface area is said to allow the barrel to dissipate heat faster.
Google is everyone's friend!