A long time ago I wound up with a very fine, almost unused Chileno Modelo 1895Mauser.
It was/is in beautiful shape and I suspect seldom if ever used.
It loves 7mm Mauser 139 Gr Prvi Partisan (Made in Serbia) out of its 29.6 inch barrel at 2740 and almost does 1 holers at 100 yds. This is the original, pencil thin barrel. When I try to shoot something like Federal the groups open up to about 4 inches at 100.
If you have, say, an 1895 with the long barrel, shoot the Prvi Partisan ammo and you'll have an excellent, accurate deer rifle.
Don't forget, this was the rifle that devastated Teddy Roosevelt and his rough riders at San Juan hill. 750 Spaniards killed over 1500 Americans with that rifle.
The critical factor with these rifles is bolt thrust. Unless you micro-polish the chamber and then grease your chamber and cartridge you won't get anywhere near the design load of this rifle.
If you want to learn more about bolt thrust see
http://varmintal.com/afric.htm
Even with a chamber so smooth it's almost impossible to obtain, the bolt thrust is still less than what the Mauser bolt was designed for.